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Howdens to open nine new depots before the end of the year

Kitchens and joinery supplier Howdens says it will open another nine depots before the end of 2014 and has upgraded profit guidance after a strong second half.

The Yorkshire based manufacturer and distributor said year-to-date sales (44 weeks) were up 14.1 per cent after sales growth accelerated to 16.2 per cent in the 14th Jun–1st Nov period. Same-depot sales were up 10.6 per cent year-on-year.

Howdens said it has opened four new depots in the second half of the year so far, bringing the total opened in 2014 to 21 with 30 to open overall by the end of the year. Current depot numbers have reached 580.

Operationally, the trade supplier — whose depots are used by small builders, joiners and kitchen installers — said it had begun a trial of holding stock of granite worktops, with initial feedback being encouraging.

It upgraded its FY pre-tax profits guidance to between £161m–£172m.

Source : The Furnishing Report

06 November 2014

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