Howdens sales rise; invests in kitchen furniture lines

Kitchen and joinery supplier Howdens has reported a growth in half year sales.

According to its latest trading update for the 24 weeks to 10 June 2023, total sales rose 1.5% to £926.9m from £913.1m against the same period last year.

Pre-tax profit resulted at £111.9m, down 22.8% from £145m, but up 43.3% when compared to 2019.

UK sales rose 0.6% to £895.1m, while International revenues jumped 33.6% to £31.8m.

During the period, Howdens invested in opening nine new depots and reformatting 28 locations, while also injecting further investment in manufacturing capabilities and capacity and in digital platforms.

Howdens plans to expand its network with 33 new UK depots, and 90 depot reformats for 2023, as well as 10 new International depots.

It launched 23 new kitchen ranges ahead of its Autumn peak trading period with more emphasis on entry and mid-point ranges which account for the majority of its cabinet volumes, while also investing in expanding its manufacturing capabilities with new kitchen furniture lines.

Andrew Livingston, Chief Executive said: “Howdens performed well in the first half in a more challenging marketplace, making progress on the record year we delivered in 2022. Our trade-only, in-stock model is hard to replicate and compete with, and we are continuing to invest in our strategic initiatives to drive growth.

“We are delivering value to our customers at all price-points as we continue to gain market share and we are well set up for further success in the second half, which includes our Autumn peak trading period. The combination of more local depots in convenient locations, an ever-stronger product line-up, first-class service and high stock availability, continues to represent a compelling proposition for our customers. While we are cautious about the short-term macroeconomic outlook for our markets, we remain confident that Howdens will make good progress in 2023 and our full year expectations are unchanged.”

Save this article for later

You can revisit this article if you save it as favourite news!

Leave a Comment

MORE ARTICLES

Peter Harding, Managing Director at Fairway Furniture, shares a deeper insight into the ongoing refurbishment at their flagship Plymouth store....