Howden Joinery sees full-year profit at top end of forecasts

6th Nov 2013 07:34

- Sees full-year profit at upper end of forecasts- Strong second-half trading- Gross margin in line with expectationsHowden Joinery said it expects full-year pre-tax profit to be at the upper end of forecasts as the improving housing market drove demand during its second half.The group, which supplies kitchen units and joinery to small builders, enjoyed strong demand throughout the second half of the year, including the key October trading period. "As a result of this, we now expect profit before tax for the year to be around the upper end of the range of market expectations," it said.In the second half of the year to November 2nd, Howden Joinery UK depots' total revenue increased by 10.7%.Total revenue in the 44 weeks ending November 2nd climbed 9.3%, rising 7.1% on a same depot basis. Its gross margin performance has been in line with expectations.CJ