Howden Joinery stockpiles for no-deal Brexit as interims rise
Howden Joinery Group
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16:44 09/01/25
Howden Joinery said it had stockpiled £12m in additional inventory to prepare for a no-deal Brexit as interim pre-tax profits rose 13.5% to £68.8m.
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A day after new UK Prime Minister Boris Johnson repeated his threat to take Britain out of the European Union without a deal, Howden said its key suppliers were also making plans to ensure supply.
“In addition, we are looking closely at the options for our inbound supply routes and have in place appropriate logistics accreditation (Authorised Economic Operator status), to reduce potential customs delays,” the company said on Thursday.
“We remain cautious given economic uncertainties, particularly the impact that Brexit might have.
Interim revenue increased 5.4% to £652.6m this year. Capital expenditure rose to £24.1m from £17.1m with the company planning to open around 40 depots in the UK, during 2019.
Howden said it continued to expect additional full year operating costs of £15m due to closing its operations in the Netherlands and Germany, digital upgrades and additional depreciation.