On 21 July 2021, the Howden Group Board approved the payment of an interim dividend of 4.3p/share to be paid on 19 November 2021 to ordinary shareholders on the register on 15 October 2021.
Other financial highlights include:
Howden Group achieved a strong first half performance compared to both H1 2020 (which was significantly impacted by the COVID-19 pandemic) and H1 2019. Group revenue of £784.9m was up 68.8% on H1 2020 and 20.3% higher than H1 2019;
Howden Joinery UK depot revenue of £764.1m, was 68.5% up on H1 2020 and was 67.1% higher, on a same depot basis. Compared to H1 2019, Howden Joinery UK depot revenue increased by 19.8% and by 15.3% on a same depot basis;
Gross profit margin of 61.3% (2020: 59.4%; 2019: 61.9%), was encouraging considering the higher mix of everyday and promotional products, with price increases that more than recovered increasing commodity and freight costs;
Profit before tax of £119.2m (2020: loss before tax of £14.2m; 2019: profit before tax of £78.1m), reflected strong sales growth, together with a modest increase in operating costs;
Cash of £476.2m at 12 June 2021 (26 December 2020: £430.7m; 13 June 2020: £253.4m), with £108.3m of 2020 dividends paid after the end of the half.
