Round-up | NEWS
Howdens kickstarts 2024 with increased revenue figures
TRADE KITCHEN giant Howdens has reported an increase in revenue for the first 16 weeks of the year.
After reporting a decline in both sales and profits in the last financial year, the kitchen
giant reported that its UK
revenue in the first 16 weeks of 2024 was 5.4% ahead of the same period of the previous year. The company also said it was ahead 4% on a “same depot basis”, which excludes revenue from any depots that opened in 2023 and 2024.
The update comes after Howdens implemented “modest price increases across all geographies” as the company continues to maintain “the right balance between margin and volume”, in line with ongoing market conditions. International revenue was also up
4.6% in the period ahead of the prior year and marginally down (-0.1%) on a same depot basis.
Commenting on Howdens’ current trading, Andrew
Livingston chief
executive, said: “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.” The company plans to open 30 more UK and 10 more international depots in 2024 and revamp 85. To date, six new UK depots have been opened, with one new international depot in the Republic of Ireland.
Roca Group announces two new brand acquisitions
ROCA GROUP – the parent company behind brands such as Roca, Laufen and Royo – has acquired two new companies. Roca Group now owns Nosag and IneoCare, which both manufacture accessibile bathroom products, with a focus on users with reduced mobility. Swiss-based Nosag was established in 1977, which went on to establish IneoCare in 2020 to manufacture and supply most of its products. Both companies are currently only active in the Swiss market, but Roca Group says it plans to extend the brands’ offering to all markets that Roca Group currently operates in, which includes the UK. The company says that the acquisitions reinforce its position in Central Europe, and also demonstrate its commitment to the over-65s market, which it says accounts for 20% of Europe’s total population.
Albert Magrans, CEO of Roca Group, said that the acquisitions were a “strategic move” for the company, “given the complementary portfolios of both companies with the current catalogue of products offered by our global brands”.
June 2024 • 7
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