29th Apr 2021 10:46
(Alliance News) - Howden Joinery Group PLC on Thursday saw its UK and continental Europe operations revenue increase during the first four months of 2021.
The London-based supplier of kitchens and joinery products to the building trade said UK revenue in the 16 weeks ended April 17 rose by 47% overall and 46% on a same depot basis from the previous quarter. Compared to 2019, UK revenue increased by 13% overall and 8.9% on a same depot basis.
On a local currency basis, Howden said depot revenue in continental Europe more than doubled on an overall and same depot basis, compared to the equivalent period last year. Compared to 2019, revenue rose by 38% overall and 20% on a same depot basis.
The company said sales growth was driven by increases in prices and volume growth.
"Howden Joinery trades from 751 depots in the UK and 30 depots in continental Europe; three new UK depots have been opened so far this year and seven older UK depots have been refurbished. We plan to open around 35 new depots in the UK and 11 in France during 2021, in addition to refurbishing around 40 older UK depots," said Howden.
The company said it remains confident that it is on track with its plans for the year.
Shares in Howden Joinery were up 1.5% at 811.20 pence in London on Thursday.
By Zoe Wickens; [email protected]
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