StockMarketWire.com - Kitchen supplier Howden Joinery upgraded its outlook on profit after reporting that revenue had increased by more than a fifth in the period from 13 June 2021 to 30 October 2021, amid higher volumes and prices.

The company said it now expected FY2021 pre-tax profit to be around the top end of current analyst forecasts of £298 million to £360 million.

For the period 13 June 2021 to 30 October 2021, Howdens UK depots' revenue for periods 7 to 11 increased by 20.8% and by 19.2% on a same depot basis, compared with the same period a year earlier.

Compared with 2019, Howdens UK depots' total revenue for periods 7 to 11 increased by 35.7% and by 30.5% on a same depot basis.

'With continued strong demand and a high level of stock availability, we again smoothed our "P11" peak trading across periods 10 and 11 to help supply chain management and depots to service demand,' the company said.

'Sales growth was driven principally by increases in volume in addition to price rises.'




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