Business
Howden Joinery Group Plc 2019 Preliminary Results
Howden Joinery Group Plc 2019 Preliminary Results.
About this update from Howden Joinery Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 2611E\n Howden Joinery Group PLC\n 27 February 2020\n \n \n \n \n SUMMARY OF GROUP RESULTS1\n \n \n \n \n \n \n \n \n \n \n \n \n £m\n \n \n \n \n 2019\n \n \n \n \n 2018\n \n \n \n \n % change\n \n \n \n \n \n \n Revenue\n \n \n - Group\n \n \n \n \n \n \n \n 1,583.6\n \n \n \n \n \n \n \n 1,511.3\n \n \n \n \n \n \n \n 4.8\n \n \n \n \n \n \n - Howden Joinery UK depots\n \n \n \n \n 1,550.3\n \n \n \n \n 1,477.3\n \n \n \n \n 4.9\n \n \n \n \n \n \n Gross profit\n \n \n \n \n 986.2\n \n \n \n \n 932.2\n \n \n \n \n 5.8\n \n \n \n \n \n \n Gross profit margin, %\n \n \n \n \n 62.3\n \n \n \n \n 61.7\n \n \n \n \n 60bp\n \n \n \n \n \n \n Operating profit \n \n \n \n \n 260.0\n \n \n \n \n 240.1\n \n \n \n \n 8.3\n \n \n \n \n \n \n Operating profit margin, %\n \n \n \n \n 16.4\n \n \n \n \n 15.9\n \n \n \n \n 50bp\n \n \n \n \n \n \n Profit before tax\n \n \n \n \n 260.7\n \n \n \n \n 238.5\n \n \n \n \n 9.3\n \n \n \n \n \n \n Basic earnings per share\n \n \n \n \n 35.0p\n \n \n \n \n 31.3p\n \n \n \n \n 11.8\n \n \n \n \n \n \n Dividend per share\n \n \n \n \n 13.0p\n \n \n \n \n 11.6p\n \n \n \n \n 12.1\n \n \n \n \n \n \n Net cash at end of period\n \n \n \n \n 267.4\n \n \n \n \n 231.3\n \n \n \n \n 15.6\n \n \n \n \n \n \n \n \n \n \n \n \n 1 \n \n \n The information presented relates to the 52 weeks to 28 December 2019 and the 52 weeks to 29 December 2018, unless otherwise stated.\n \n \n \n \n \n \n \n \n 2\n \n \n \n \n \n \n Same depot basis for any year excludes depots opened in that year and the prior year. See Financial Review below.\n \n \n \n \n \n \n Financial highlights1:\n \n \n \n \n \n · \n Howden Joinery UK depot revenue increased by 4.9% to £1,550.3\n m (up 2.5% on a same\n depot basis2). Group revenue was £1,583.6m (2018: £1,511.3m);\n \n \n · \n Gross profit margin of 62.3% (2018: 61.7%), reflected a price increase in January 2019 and a more disciplined balance between volume and price achieved in depots;\n \n \n · \n Profit before tax was £260.7m (2018: £238.5m); \n \n \n · \n Final dividend of 9.1p recommended, giving a full year dividend of 13.0p per share (2018: 11.6p);\n \n \n · \n A further £85m share repurchase programme to take place over the next two years. \n \n \n \n \n \n Chief Executive ...