(Reuters) – British kitchen appliance company Howden Joinery Group reported higher full-year profit and said it had stockpiled inventory worth 15 million pounds in anticipation of potential supply hiccups ahead of Britain’s exit from the European Union.
“We remain cautious given economic uncertainties, particularly the impact that Brexit might have,” the company said in a statement, adding that it was considering options for inbound supply routes and logistics accreditation to reduce potential customs delays.
Several British companies such as Topps Tiles and Electrocomponents are preparing for the risk of interruptions to the flow of goods and parts across borders once Britain leaves the European Union next March.
Pretax profit rose 2.7 percent to 238.5 million pounds for the year to Dec. 29 2018, Howden said in a statement.
(Reporting by Devika Syamnath in Bengaluru; Editing by Anil D’Silva)