6th Nov 2013 08:50
LONDON (Alliance News) - Howden Joinery Group PLC Wednesday said it expects full-year pretax profit to be at the top end of market expectations for between GBP122 million and GBP134 million after strong sales growth so far in the second half of the year.
In a trading update, the company said revenues rose 9.3% in the first 44 weeks of the year, and were up 7.1% on a like-for-like basis. Revenue from its UK depots in the second half of the year so far were up 10.7%. Gross margins, meanwhile, were in line with its expectations.
The company has opened seven new depots since July, meaning it has opened 15 so far this year and taking its total portfolio to 544. It's on track to open 30 new depots for the year as a whole.
Howden will release full-year results February 27.
Its shares were up 1.6% at 325.6 pence early Wednesday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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