Howden Joinery Group Reports Decline in Profit

Key Financial Figures for 2023

Howden Joinery Group announced a decrease in pretax profit, citing higher costs as a contributing factor. Despite this, the U.K.-based manufacturer of kitchen and joinery products remains optimistic about meeting its outlook for the upcoming year.

Financial Highlights

• Pretax Profit: £327.6 million in 2023, down from £405.8 million in the previous year
• Revenue: Declined slightly to £2.31 billion from £2.32 billion
• Dividend: Final dividend of 16.2 pence per share, bringing the total payout for the year to 21.0 pence (up from 20.6 pence)

Future Prospects

The company reported positive revenue growth in 2024 across all operating countries. Despite anticipating consistent market conditions, Howden Joinery Group is prepared to navigate any challenges or opportunities that may arise.

CEO's Optimism

Chief Executive Andrew Livingston expressed confidence in the outlook for 2024, highlighting the company's strong start to the year and flexible business model. While remaining cautious about the broader economic and geopolitical landscape, Livingston emphasized the board's belief in a successful year ahead.