Trading Update

28 April 2016

Howden Joinery Group Plc is today publishing a trading update covering the first four periods of the year (16 weeks to 16 April 2016).

Performance so far this year is in line with our expectations.

Trading

Howden Joinery UK revenue was up 8.7% on the corresponding periods last year, increasing by 6.4% on a same depot basis. Along with the evidence we have of trading prospects, this would indicate that market conditions are stable, albeit we remain watchful.

Although currency movements have affected our cost of goods sold, we have seen good progress on the implementation of a price increase in the year so far.

Business developments

We are on track with our plans to open 30 new depots in the UK this year. With six new depots having been opened so far, Howden Joinery is now trading from 625 depots in the UK.

As part of the £70m share buyback programme announced in February 2015 and the £55m programme announced in February 2016, the Group has acquired 11.2m shares in the year to date, for which the consideration was £52.8m. This is equivalent to the £25m of the £70m programme that was outstanding at the end of 2015 and half of the £55m programme, which we said would be implemented over the course of two years.

Next scheduled announcement

The Group will release its 2016 Half Yearly Report on 21 July 2015.

 

Enquiries
Investors/analysts:
Gary Rawlinson
Head of Investor Relations

+44 (0)207 535 1127
+44 (0)7989 397527
Media:
Maitland +44 (0)207 379 5151
Greg Lawless/Robbie Hynes

 

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Business Model and Strategy

Find out more about our business model and strategy, the markets in which we operate and our strategic approach to protect our unique business model and ensure that the business continues to grow.

Depots

As a familiar sight across towns and cities in the UK and Europe, our depots are always within easy reach, so a trade professional never has far to travel to find their nearest Howdens. Get to know more about how each one operates.

Sustainability

Our sustainable behaviour is at the heart of our business and enables us to reduce some of our risks. We take great pride in ensuring that our business positively impacts the world around us and the people within it.

Community

We are passionate about supporting the local communities we operate in, which is why our depots and support staff actively seek ways to give something back. Whether it is running half marathons or sponsoring local Scout groups, discover the many ways we help good causes.

Products

With around 80 kitchen ranges, our exclusive Lamona appliance brand, and thousands of products across joinery and hardware, learn why our builders have come to trust the range and quality of the products we offer.

People and Careers

The Sunday Times named Howdens as one of the top 25 big companies to work for. Discover why Howdens is a great place to work, how we develop our people and reward them, whilst building a culture with an entrepreneurial spirit.

Financial Results

Download copies of the latest financial results for Howdens both past and present including the associated presentations and Interim Management Statements released between results announcements.

Governance

Howdens is a responsible business which was founded on the tenet that the Company should be worthwhile for all concerned, with a commitment to the people within its reach and the wider world. Here we provide the links to the framework that informs our decisions and outcomes.