9th Dec 2020 09:53
(Alliance News) - Howden Joinery Group PLC on Wednesday said it is now expecting its annual pretax profit to exceed the top end of current analyst forecasts by "around 10%".
Shares in Howden Joinery were up 6.7% at 685.00 pence in London in morning trading.
The FTSE 250-listed kitchens and joinery products company said that since its November announcement, trading has stayed strong with revenue from Howdens UK depots for November 1 to November 28 up 19% year-on-year and 17% on a same depot basis.
For the year to date, total UK revenue was 5.1% lower year-on-year.
The company said its gross margin guidance remains unchanged and with its "continued recent strong trading performance". Howden Joinery is now expecting its pretax profit for its financial year ending December 2020 to be around 10% above the top end of current analyst forecasts.
Howden Joinery said the pretax profit expectations range is believed to be GBP123 million to GBP152 million.
By Anna Farley; [email protected]
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