Kitchen and joinery products provider Howden Joinery Group PLC (HWDN.L) Thursday reported that its fiscal 2023 profit before tax fell 19.3 percent to 327.6 million pounds from last year's 405.8 million pounds.
The results included 17 million pounds of additional costs relating to a 53rd week. Before these costs profit before tax was down 15 percent.
Basic earnings per share dropped 29.3 percent to 46.5 pence from prior year's 65.8 pence.
Group revenue edged down 0.3 percent to 2.31 billion pounds from 2.32 billion last year.
UK revenue was 0.7 percent below last year, while International revenue was 11.0 percent ahead.
Further, the company said its Board is recommending a final dividend for 2023 of 16.2p per ordinary share, up from 15.9p per ordinary share last year. This results in a total dividend of 21.0p per ordinary share, up 1.9 percent from the prior year. The final dividend will be paid on May 24 to shareholders on the register on April 12.
Looking ahead, the company said it sees encouraging revenue trends since the period end, and anticipates that market conditions in 2024 will be broadly unchanged.
Andrew Livingston, Chief Executive said, "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."
In London, Howden Joinery shares were trading at 833 pence, up 7.82 percent.
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