Howden Joinery H1 profits, revenue ahead of pre-Covid levels

21st Jul 2022 07:59

(Sharecast News) - Howden Joinery posted a jump in first-half profit and revenue on Thursday as it said it was trading "well ahead" of pre-Covid levels and backed its outlook for the year.

The kitchen supplier said first-half pre-tax profit rose 21.6% to £145m, with revenues up 16.3% on the year to £913.1m. Versus 2019 pre-Covid levels, pre-tax profit was up 85.7% and revenues were ahead 39.9%.

Howdens hailed good momentum going into the second half of the year, which includes its all-important peak trading period.

"We will continue to manage inflationary pressures according to market conditions to achieve the right balance between pricing and volume," it said.

"We are confident in our resilient business model while recognising that we will be trading against record revenue comparatives. While watchful of market conditions and consumer sentiment, the group remains on track with its outlook for the full year."