Optimistic outlook for kitchen manufacturer as it grows market share

Specialist trade kitchen and joinery supplier, Howden Joinery Group, has reported revenues of £2.3bn, in line with 2022’s record performance, as it publishes its 2023 full year results.

The group, which operates a factory in East Yorkshire and depots across the region, also recorded pre-tax profits of £327.6m (2022: £405.8m).

Andrew Livingston, chief executive said: “The combination of a strong product line-up, high stock availability and outstanding customer service, alongside investments to drive future growth, all contributed to further market share gains in 2023.

Howden notes its international revenue was 11% ahead of the previous year, with continued expansion in France and the Republic of Ireland.

Its strategic initiatives during the year included 43 new depots across the group, 89 depot reformats in the UK, 23 new product ranges, a further development of its digital technology and upgrades to manufacturing and supply chain.

The group invested in upgrading its manufacturing operations. Howden now manufactures 35% of its cost of goods sold (COGS) in-house, compared to 28% in 2021.