Howdens half-year edged up despite the “challenging marketplace” as the kitchens specialist aims to open 30 new UK locations and five international depots this year.
Pre-tax profits for the trade kitchen supplier remained flattish at £112.3m in the 24 weeks to 15 June, compared to the £111.9m.
Sales increased to £966.3m, driven by a 4.3% UK rise, as the business flagged “signficant growth opportunities” in its home market.
Howdens attributed its resilient performance to a £16m investment into strategic initatives which included an upgraded click-and-collect service to show live depot stock, 26 depot revamps and relocations, as well as new kitchen ranges.
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Chief executive Andrew Livingston said: “Howdens performance in the first half was encouraging and we gained market share in a challenging marketplace. We continued to invest in our strategic initiatives which is strengthening our differentiated business model and delivering positive results.
“We are focused on the significant growth opportunities in our core UK kitchen and joinery markets. To access these, we are progressing our new depot and reformat programme and making range and product innovations.
“We are also manufacturing more of what we sell and, alongside the provision of unequalled stock availability, we are adding further digital capabilities to support our trade customers and depot teams.
“We continue to see opportunities to develop our business model internationally and we’re making good progress in establishing Howdens’ presence, laying the foundations for future success.”
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