Howden 'on track' with plans for 2023

The specialist trade kitchen and joinery supplier, with depots in Black Country and Shropshire, revealed results for the first four periods of 2023 – the 16 weeks to April 15.

In the UK, year-to-date sales in 2023 were in line with the prior year, and were ahead on an underlying basis after taking into account an additional day of trading and the timing of a price increase last year.

In 2023, UK depot revenue was 0.2 per cent lower than the prior year and 1.6 per cent lower on a same depot basis, reflecting very strong prior year revenue comparatives.

After adjusting for an additional sales day in 2022, UK revenue was ahead by 1.4 per cent and level on a same depot basis.

In 2022, UK results for the first four trading periods were exceptionally high with record levels of demand in a buoyant kitchen and joinery market.

Depot revenue in the international businesses increased by 16.8 per cent in local currency and was 3.8 per cent lower on a same depot basis, compared to the equivalent periods last year.

After adjusting for an additional sales day in 2022, international revenue was ahead by 17.4 per cent and was 3.3 per cent lower on a same depot basis.

Howden said it plans to open around 30 new depots in the UK, around 10 in France and around five in the Republic of Ireland, this year and will be refurbishing around 80 older UK depots.

Andrew Livingston, Chief Executive, said: "The Group has continued to perform well in the first four periods of 2023 against record prior year comparatives.

"We have good momentum in the business and our customers remain busy.

"We are on track with our plans for 2023 while mindful of the second half weighting of our sales, which includes our all-important peak trading period.

"Our kitchen and joinery markets are large and attractive, and we are continuing to invest in our future growth through our successful strategic initiatives."