Source - SMW
Howden Joinery Group reports a good trading performance from the period since 12 Jun, including during the important October trading period.

The company said it remained on track to meet the board's expectations for the full year, while noting that the two remaining trading periods together typically accounted for more than 10% of annual revenue.

Howdens UK depots' total revenue for periods 7 to 11 (12 Jun  to 28 Oct) increased by 8.2% on the comparable periods in 2016. 

It said the increase in revenue was driven mainly by volume growth and also reflected the slowdown in revenue growth reported during the second half of 2016.

In the first 11 periods (44 weeks) of 2017, total revenue in the UK increased by 6.3% and by 4.4% on a same depot basis, while gross margin performance has been in line with management expectations.

In a trading update, the group said that Howdens UK had opened five new depots since the July half year report, resulting in 16 new depots added so far this year, taking the total depots in the UK to 658. 

Howdens expects to add around 20 new depots in the UK in 2017.