Trade kitchen and joinery supplier Howdens Joinery Group has announced “encouraging” financial results, with plans to open 30 new depots in the UK and refurbish 85 older branches in 2024.

The company also proposed to open 5-10 new international depots.

To date, Howdens has opened six depots, refurbished 10 branches and opened an international depot in the Republic of Ireland.

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As reported in its trading update for the first four periods of 2024, the UK depot revenue increased by 5.4% on the previous year and was up 4% on a same depot basis.

According to Howdens, as a result of the additional 53^rd week in 2023, there was an earlier start to its 2024 financial year, with depots trading in the first week of the current year when they were closed in the prior year.

However, adjusting for this, it states UK depot revenue was 1.9% ahead of the prior year and 0.5% up on a same depot basis.

While revenue from international depots, circa 3% of the group’s revenue, was 4.6% ahead of the previous year and 0.1% lower on a same depot basis.

Adjusting for the additional week in 2023, performance was 2.2% ahead and 2.5% lower on a same depot basis.

At the start of the year, Howdens implemented “modest” price increases across all geographies.

Chief executive of Howdens Andrew Livingstone commented on the trading results: “We have made an encouraging start to the year with trading in line with our expectations.

“We are also continuing to make good progress in implementing our strategic initiatives which drive profitable growth.

“We are on track with the outlook for 2024, while mindful of the second half weighting of sales from our Autumn peak trading period.”