Howden Joinery revenue rises as buoyant demand continues

1st May 2014 08:36

- Performance so far this year in line with expectations- Improved market conditions have continued- Planning to open 30 new depots this yearShares of Howden Joinery rallied after it issued an encouraging update on its trading performance so far this year, with the improved market conditions seen since last summer continuing.The group, which supplies kitchen units and joinery to small builders, said UK revenue was up 11.2% in the first 16 weeks of 2014 on the corresponding period last year, increasing by 8.5% on a same depot basis. It is currently planning to open 30 new depots this year and is now trading from 565 depots in the UK as the improving housing market drives demand.Howden Joinery said there have been no material changes to the financial position of the group. Its shares rose 3.3% to 336.00p at 08:40 in London.CJ