Howden makes positive start to 2022 as FY profits rise

UK building material supplier Howden Joinery Group on Thursday said like-for-like revenue at its UK depots had risen 15.6% in the new financial year to February 22 as it reported a rise in 2021 profits.

The company, which owns depots in the UK, France and Ireland said pre-tax profit for the 52 weeks to December 25 rose 49.7% to £390.3m. Group revenue rose 32% to £2.09bn.

Howden declared a final dividend of 15.2p a share, taking the total for the year to 19.5p a share.

Looking ahead, the company said it was watchful of macro-economic uncertainties and offsetting inflationary pressures through price management and cost control.

It also cautioned that the second half of the current year would be performing against record revenue comparatives which includes their peak trading period.

"While it is still early in the new financial year, we have at present the momentum for another successful year in 2022 and the plans in place to deliver one," the company said.