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Feb 24 2022, 08:30 GMT
Howden Joinery
Outstanding results and a £250m share buyback
- Sectors : Builders Merchants
- Companies : Howden Joinery
DAVY VIEW
Howdens had an outstanding 2021. Pre-tax profits rose 111% year-on-year (yoy) to £390m and were also 50% above 2019. Net cash at year-end was far higher than expected at £515m. This has prompted a step-up in the Howdens share buyback to £250m. Last year’s performance will be hard to match but, with the Howdens share price little changed over the past year, the group’s valuation is looking increasingly attractive.
