In its half-yearly report Howden Joinery UK depot showed a revenue £539.5m (2016: £518.9m), an increase of 4.0% and 2.4% on a same depot basis. Group revenue was £553.0m (2016: £528.9m) and gross profit margin 64.1% (2016: 64.5%), stable on FY 2016 and including £12m of currency costs.

Furthermore, Howdens said an operating profit of £66.6m (2016: £74.7m) reflected expected costs due to new distribution centre and new product introduction programme.

“We delivered a solid revenue performance in the first half in line with our plans for the full year,” said chief executive Matthew Ingle. “As expected during H1 2017 we saw currency movements and additional operating costs impacting our year-on-year profitability.

“The sales initiatives which began in Q4 2016 have shown positive results with UK growth of 4.0% year-on-year in H1 2017 and growth of 6.5% for our most recent period of trading. We continue to develop the range of products and services we offer to broaden the entry level appeal of the Howdens’ proposition. Our investment programme remains on track and we have begun operations in our new distribution centre in Raunds, Northamptonshire.

“We believe that current market conditions are stable, although we remain watchful given continuing economic uncertainties. To date this year 11 UK depots have been opened, bringing the total to 653 and 22 new kitchen ranges introduced in H1 2017. Our overall expectations for the full year are unchanged.”