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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Howden Joinery H1 profits slightly higher amid 'challenging' conditions

(Sharecast News) - Kitchens and joinery products supplier Howden Joinery Group said on Thursday that interim profits had only slightly risen as it continued to navigate "challenging" UK market conditions. Howden Joinery said pre-tax profits rose £400,000 to £112.3m, in line with management expectations, while operating profits were up £200,000 at £117.2m. Revenues rose 4.3% to £966.3m.

Basic earnings per share were flat year-on-year at 15.4p, while the group's interim dividend per share was up 2.1% at 4.9p.

Chief executive Andrew Livingston said: "Howdens performance in the first half was encouraging and we gained market share in a challenging marketplace. We continued to invest in our strategic initiatives which is strengthening our differentiated business model and delivering positive results."

As of 1000 BST, Howden Joinery shares were down 3.64% at 913.0p.

Reporting by Iain Gilbert at Sharecast.com

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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