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Howden Joinery lifts profit outlook amid recovery in demand
StockMarketWire.com
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Kitchen and joinery products supplier Howden Joinery upgraded its outlook on profit as 'strong' performance continued since a previous update on 2 November.
The company said it now expected pre-tax profit to be around 10% above the top end of current analyst forecasts of £123 million to £152 million.
Guidance on gross margin was unchanged.
Howden said trading had continued to be strong, with UK depots revenue from 1 November to 28 November increasing by 18.8% and by 17.2% on a same depot basis.
For the year to date UK revenue was 5.1% below that for 2019.
The group expected to release its 2020 preliminary results, including an update on market conditions, on 25 February.
Story provided by StockMarketWire.com
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