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HOWDEN JOINERY GROUP PLC 2020 PRELIMINARY RESULTS £ m SUMMARY OF GROUP RESULTS¹ Revenue - Group - Howden Joinery UK depots Gross profit Gross profit margin , % Operating profit Operating profit margin , % Profit before tax Basic earnings per share , p Dividend per share , p Special dividend per share , p 2020 1,547.5 1,509.6 930.0 60.1 % 195.7 12.6 % 185.3 ✔HOWDENS 24.9p 9.1p 9.1p 2019 1,583.6 1,550.3 986.2 62.3 % 260.0 16.4 % 260.7 35.0p 3.9p % change Howden Joinery Group Plc 2020 Preliminary Results , 25 February 2021 ( 2.3 ) ( 2.6 ) ( 5.7 ) ( 220 ) bp ( 24.7 ) ( 380 ) bp ( 28.9 ) ( 28.8 ) 133.3 N / A Net cash at end of period 430.7 267.4 61.1 ¹ The information presented relates to the 52 weeks to 26 December 2020 and the 52 weeks to 28 December 2019 , unless otherwise stated . The 2020 results are presented under IFRS 16 for the first time , 2019 results have not been restated . Same depot basis for any year excludes depots opened in that year and the prior year . See Financial Review on page 4 . 2 Financial highlights¹ : Whilst the COVID - 19 pandemic had a significant impact on Howdens , the Group adapted and traded robustly overall with revenue of £ 1,547.5m ( 2019 : £ 1,583.6m ) . Howden Joinery UK depot revenue reduced by 2.6 % to £ 1,509.6m ( 2019 : £ 1,550.3m ) , and by 4.5 % on a same depot basis² ; Gross profit margin of 60.1 % ( 2019 : 62.3 % ) , reflected mix changes , pricing and the impact of carrying fixed costs during reduced levels of production due to COVID - 19 ; Profit before tax was £ 185.3m ( 2019 : £ 260.7m ) , reflecting the lower gross profit , together with a modest increase in operating costs ; 2020 final dividend of 9.1p per share recommended and special dividend of 9.1p per share to be paid ( in lieu of the cancelled final dividend for 2019 ) , totalling £ 108m ; Net cash of £ 430.7m ( 2019 : £ 267.4m ) , enhanced by the timing of c . £ 60m of supplier payments due after year end . The Group repaid Government support received earlier in the year ahead of the year end . Chief Executive Officer , Andrew Livingston , said : " Howdens performed well during 2020. We adapted to COVID trading conditions and progressed our strategic plans for the business . Our performance demonstrates the strength of our trade only business model and our ability to evolve the business while prioritising the health and wellbeing of our staff and customers . " Following a sharp drop in sales in quarter two when the UK entered its first national lockdown , our performance improved significantly in the second half , with sales up 16 % compared to the equivalent period in 2019 , as we benefitted from pent - up demand and the consumer's desire to invest in their homes . The year ended strongly with profit and cash flow ahead of expectations and we were able to repay the Government furlough and other support taken earlier in the year . We are also pleased to be resuming dividend payments . " Given the COVID - related and other economic uncertainties , we remain cautious about underlying market conditions ; however , we are encouraged by the progress made in 2020 and remain confident in our business model for the future . " 1