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HOWDEN JOINERY GROUP PLC 2021 Half Year Report SUMMARY OF GROUP RESULTS¹ £ m ( unless stated ) Revenue - Group - Howden Joinery UK depots 2021 Gross profit Gross profit margin , % Operating profit / ( loss ) Operating profit / ( loss ) margin , % Profit / ( loss ) before tax 784.9 764.1 481.0 61.3 124.3 15.8 119.2 2020 16.4p 4.3p 20.3 19.8 19.0 ( 60 ) bps 60.0 390bps 52.6 Basic earnings / ( loss ) per share 59.2 Dividend per share 10.2 Cash at end of period 476.2 253.4 217.1 87.9 119.3 ¹ The information presented relates to the 24 weeks to 12 June 2021 , the 24 weeks to 13 June 2020 and the 24 weeks to 15 June 2019 , unless otherwise stated . 2019 figures are presented on a pre - IFRS 16 basis . 2 Same depot basis for any year excludes depots opened in that year and the prior year . See Financial Review on page 4 . 465.0 453.4 276.1 59.4 ( 9.8 ) ( 2.1 ) ( 14.2 ) ( 1.8 ) p 0.0p 2019 HOWDENS 652.6 638.1 404.2 61.9 77.7 11.9 78.1 10.3p 3.9p % change % change vs '20 vs '19 68.8 68.5 74.2 190bps Financial highlights¹ : Howden Group achieved a strong first half performance compared to both H1 2020 ( which was significantly impacted by the COVID - 19 pandemic ) and H1 2019. Group revenue of £ 784.9m was up 68.8 % on H1 2020 and 20.3 % higher than H1 2019 ; Howden Joinery UK depot revenue of £ 764.1m , was 68.5 % up on H1 2020 and was 67.1 % higher , on a same depot basis² . Compared to H1 2019 , Howden Joinery UK depot revenue increased by 19.8 % and by 15.3 % on a same depot basis² ; Gross profit margin of 61.3 % ( 2020 : 59.4 % ; 2019 : 61.9 % ) , was encouraging considering the higher mix of everyday and promotional products , with price increases that more than recovered increasing commodity and freight costs ; Profit before tax of £ 119.2m ( 2020 : loss before tax of £ 14.2m ; 2019 : profit before tax of £ 78.1m ) , reflected strong sales growth , together with a modest increase in operating costs ; • 2021 interim dividend of 4.3p per share ( 2020 : nil ; 2019 : 3.9p ) , and recommencement of share buyback programme of £ 50m ; Howden Joinery Group Plc 2021 Half Year Report , 22 July 2021 Cash of £ 476.2m at 12 June 2021 ( 26 December 2020 : £ 430.7m ; 13 June 2020 : £ 253.4m ) , with £ 108.3m of 2020 dividends paid after the end of the half . Chief Executive , Andrew Livingston , said : " Howdens delivered a very strong performance in the first half of 2021 , with sales and profit before tax at record levels for the period . Sales were 69 % higher than the first half of 2020 ( which was materially impacted by COVID - 19 ) and 20 % higher than the comparator period in 2019. Sales of " everyday " and promotional items were particularly strong and our profit , compared with 2019 , increased at a faster rate than sales . " This robust performance demonstrates the strength of our trade only , in - stock , local business model and the benefit of pent - up demand as people choose to spend more on their homes . With that in mind , we now believe there is potential for at least 900 depots in the UK , including 20-25 in Northern Ireland , and plan to start testing the Howdens model in the Republic of Ireland in 2022 . " While we are aware that economic uncertainties persist and also of the strong comparatives we will trade against in the second half , we are encouraged by the progress made so far in 2021 and remain confident in our business model for the future . " 1