(Sharecast News) – Howden Joinery on Wednesday lifted profits guidance after a better-than-expected performance in the final weeks of the year as locked down Britons spent more time improving their homes during the coronavirus pandemic.
The company now expects 2020 pre-tax profit to be around £185m. A month ago Howdens said annual pre-tax profit was set to be around 10% above the top end of analyst forecasts of between £123m – £152m.
DIY firms such as Kingfisher, which owns B&Q and Screwfix in the UK, have reported sharp rises in sales in response to tighter pandemic restrictions as more people find themselves at home more and travelling less.
The company expected to release its 2020 preliminary results, including an update on market conditions, on February 25.