Howdens CEO Andrew Livingston has warned that the UK kitchen market may see further contraction in 2025 following a challenging 2024. In the company's Annual Report, Livingston stated, 'I don't think the external market has done us any favours in 2024.' Howdens reported a slight 0.5% revenue increase in 2024, reaching £2.322bn compared to £2.310bn in 2023.
Howdens CEO, Andrew Livingston. Photo: Howdens.
Livingston expects market conditions to remain difficult due to the macroeconomic environment but believes Howdens is "well prepared" by controlling costs and protecting margins. Chairman Peter Ventress noted that the UK kitchen market declined for a third consecutive year in 2024 and remains at cyclical lows. Despite economic uncertainty, he affirmed that Howdens' business model is resilient.
Looking ahead, Howdens plans to expand its higher-priced kitchen range, particularly its Hockley collection, to strengthen its market position.
Source: www.kbbreview.com