The combination of a strong product line-up, high stock availability and outstanding customer service, alongside investments to drive future growth, all contributed to further market share gains in 2023.
Our established markets for kitchens and joinery in the UK are now estimated to be around £12 billion and we continue to seek further opportunities in adjacent markets. The focus remains on executing our strategic initiatives at pace to capitalise on this attractive, long-term growth opportunity, while selectively expanding Howdens’ differentiated, trade-only business model internationally.
Our robust balance sheet underpins our strategy as we invest in growth, including expanding our manufacturing and supply chain capabilities, and returning surplus capital to shareholders. While we are cautious about the macro-economic and geo-political environment, given the encouraging start to the year and the agility of our business model, the Board is confident in the outlook for 2024.
1 The information presented relates to the 53 weeks to 30 December 2023, the 52 weeks to 24 December 2022 and the 52 weeks to 28 December 2019, unless otherwise stated. The 2023 and 2022 results are presented under IFRS 16, 2019 results have not been restated.
2 Comprises Howdens’ depots in France, Belgium and the Republic of Ireland (ROI).
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