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29 Apr 2021 07:00
29 April 2021
Howden Joinery Group plc
TRADING UPDATE
Howden Joinery Group Plc ("Howdens" or "the Group"), the UK's largest kitchen supplier, today announces a trading update for the first four periods of 2021 (16 weeks to 17 April 2021).
Trading
Howden Joinery UK increased revenue by 47.1% overall and by 46.1% on a same depot basis1, compared to the equivalent periods last year which were impacted in Period 4 by COVID-19 lockdown measures. Sales growth was driven by increases in prices and volume growth.
Compared to 2019, Howden Joinery UK increased revenue by 13.1% overall and by 8.9% on a same depot basis1.
On a local currency basis, depot revenue in Continental Europe increased by 108.0% and by 105.9% on a same depot basis1, compared to the equivalent periods last year. Compared to 2019, revenue increased by 37.6% overall and by 19.7% on a same depot basis1.
The Board remains confident that the Group is on track with its plans for the year.
Business developments
Howden Joinery trades from 751 depots in the UK and 30 depots in Continental Europe; three new UK depots have been opened so far this year and seven older UK depots have been refurbished. We plan to open around 35 new depots in the UK and 11 in France during 2021, in addition to refurbishing around 40 older UK depots.
Next scheduled announcement
The Group will release its 2021 Half Year Report on 22 July 2021.
1 Same depot basis for any year excludes depots opened in that year and the prior year.
Enquiries
Guy Stainer
Head of Investor Relations + 44 (0) 20 7535 1164 / +44 (0) 7739 778187
Citigate Dewe Rogerson
Kevin Smith +44 (0)7710 815924, Ellen Wilton +44 (0)7921 352 851
Note to editors:
Howden Joinery Group Plc is the parent company of Howden Joinery (Howdens). In the UK, Howdens is engaged in the sale of kitchens and joinery products to trade customers, primarily small local builders, through approximately 750 depots. Around one-third of the products it sells are manufactured in the company's own factories in Runcorn, Cheshire, and Howden, East Yorkshire. The business also operates a total of 30 depots in France and Belgium.
For details and more information, please see: www.howdenjoinerygroupplc.com.
Cautionary statement:
Certain statements in this announcement are forward-looking. Although the Group believes that the expectations reflected in these forward-looking statements are reasonable, we can give no assurance that these expectations will prove to have been correct. Because these statements contain risks and uncertainties, actual results may differ materially from those expressed or implied by these forward-looking statements. We undertake no obligation to update any forward-looking statements whether as a result of new information, future events or otherwise.
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