Fortunes of companies such as Howdens are firmly tied to the health of the British housing sector, which has been facing dwindling demand amid deep affordability concerns, with consumers continuing to curb spending in the wake of broader economic woes.

"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," said CEO Andrew Livingston in a statement.

Its UK depot revenue, which accounts for about 97% of the total turnover, fell 0.7% to 2.24 billion pounds ($2.84 billion).

The company said revenue growth in the new financial year had been "encouraging", adding that it planned to open 30 new depots in its main market, the UK.

The FTSE 250 company said pre-tax profit for 53 weeks to Dec. 30 was 327.6 million pounds, compared with company-compiled analysts' average estimates of 332 million pounds.

($1 = 0.7899 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Rashmi Aich)