5th Nov 2014 08:05
LONDON (Alliance News) - Howden Joinery Group PLC Wednesday said it expects its pretax profit for its recently-ended financial year to beat market expectations, after it put in a strong sales performance in the second half.
The FTSE 250-listed kitchens and joinery products supplier said sales performed well in the second half of the year, including during October, and it noted that about 10% of annual revenue is typically generated in the last two months.
Total revenue for the company's UK depots in the second half to November 1 increased 16.2%. For the first 44 weeks of the year to November 1, total revenue rose 14.1%, up 10.6% on a same depot basis.
The gross margin performance of the business has been in line with expectations, it said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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