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Clerkenwell_Open_Living_Main_RT MATT GREY RTA

Factsheet

Howdens' mission statement

To supply from local stock nationwide the small builder's ever-changing, routine, integrated kitchen and joinery requirements, assuring best local price, no-call-back quality and confidential trade terms...... and to provide the builder's customer with enough choice, advice and aftersales to make a home to be proud of.

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What makes Howdens different?

1. Focus on one customer

Howdens is focused solely on the small builder and everything the business does is geared towards making the builder's life easier. Howdens offers builders a relevant, well-designed, high-quality range of kitchens, together with appliances, joinery, flooring and hardware, via trade-only depots that are always in stock. The builder benefits from a confidential discount and good credit terms that allow him to manage his business and determine an appropriate margin for each job he undertakes.

2. Entrepreneurialism, accountability and control

Howdens' depot managers are responsible for their own profit and loss accounts, for hiring local staff, setting local pricing and doing their own local marketing. Managers and staff are highly incentivised to open local trade accounts and build profitable relationships with account holders. Howdens' control of sourcing, range design and specification, manufacturing, distribution and customer credit helps drive an efficient, low-cost business.

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3. Low-cost operations

At depot level, Howdens has none of the costs associated with kitchen retailers, e.g. showrooms, delivery and installation services and national advertising. A typical Howdens depot occupies around 10,000 square feet, costs £300,000 to fit out and breaks even once it has achieved sales of £700,000. Howdens controls its own supply chain and is investing in the growth and resilience of these operations. The business has also invested in a robust, scalable systems infrastructure that helps ensure consistent product quality and availability at lowest cost.
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Prospects

Howdens is a highly profitable, cash-generative business with significant scope for further growth. The business has identified scope for up to 800 depots in the UK, and expects to open 30 new depots in 2018.

Howdens also expects to be able to realise further growth from the 25% of depots that are not yet mature, and to effect continuing performance improvements across its depot portfolio. Howdens benefits from a flexible, scalable infrastructure that will allow it to deliver further efficiencies as the business grows.

Contacts

Investor relations

Paul Sharma
Head of Investor Relations
 
Howden Joinery Group Plc 
40 Portman Square 
London W1H 6LT

Tel: 020 7535 1164
Email: paul.sharma@howdens.com

Media enquiries

Journalists should contact:
Citigate Dewe Rogerson

Simon Rigby 020 7282 2847 / 
Kevin Smith 020 7282 1054

Registered Office and Head Office

40 Portman Square
London
W1H 6LT

Registered company number

Howden Joinery Group Plc is registered in England and Wales, with the no. 02128710

Factsheet

Howdens' mission statement

To supply from local stock nationwide the small builder's ever-changing, routine, integrated kitchen and joinery requirements, assuring best local price, no-call-back quality and confidential trade terms...... and to provide the builder's customer with enough choice, advice and aftersales to make a home to be proud of.