Howden Joinery H1 profits slightly higher amid 'challenging' conditions

25th Jul 2024 08:59

(Sharecast News) - Kitchens and joinery products supplier Howden Joinery Group said on Thursday that interim profits had only slightly risen as it continued to navigate "challenging" UK market conditions.

Howden Joinery said pre-tax profits rose £400,000 to £112.3m, in line with management expectations, while operating profits were up £200,000 at £117.2m. Revenues rose 4.3% to £966.3m.

Basic earnings per share were flat year-on-year at 15.4p, while the group's interim dividend per share was up 2.1% at 4.9p.

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."

As of 1000 BST, Howden Joinery shares were down 3.64% at 913.0p.

Reporting by Iain Gilbert at Sharecast.com