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(Alliance News) - Howden Joinery Group PLC on Tuesday said its first half revenue topped expectations and the kitchen products provider expects a sharp rise in annual profit.
In the first half of 2021, revenue surged 69% annually to GBP785 million from GBP465 million. Revenue also rose 20% from GBP652.6 million from two years earlier, so before the onset of the pandemic.
In its Howden Joinery UK depot, revenue jumped 19% from two years earlier to GBP764 million.
"Since the period end, this pattern of trade has continued and we remain cautiously optimistic in our outlook for the second half and our all-important peak trading period," the company said.
"Whilst we are aware of the economic uncertainties that we face and the tough comparators from the second half of 2020, we remain confident in our business model for the future."
The company expects pretax profit of GBP300 million for 2021, up 62% from GBP185 million in 2020.
Shares in Howden Joinery were 2.7% higher at 875.45 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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