Trade kitchen supplier Howden Joinery Group is expecting its FY 2021 pre-tax profits to virtually double those of the previous year due to exceptionally strong trading driven by pent-up demand. Revenue for the first eleven months of the year was up by 37.7 per cent YOY.
Increasing numbers of consumers had chosen to spend more on renovating their properties, diverting freed commuting monies to home improvements. Howdens was also able to leverage its stock levels at a time when other suppliers had supply issues.
In a statement, the business said: “The Board remains confident in our business model for the future but anticipates returning to a more normalised trading pattern and performance in 2022, which will make comparators from 2021 challenging.
“We remain watchful of the uncertainties ahead, including the economic outlook and the potential impacts from ongoing disruption to global supply chains and cost inflation upon our business.”
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