Howden Joinery Regulatory News (HWDN)

Strong trading momentum and confirmation of 2025 outlook

Howden Joinery Group plc, the UK's largest trade kitchen supplier, today announces an update on trading since the half year results, Periods 7 to 11.

Current trading

1 There were two fewer trading days in H1 2025 versus the prior year. Numbers reported are unadjusted.

2 Same depot basis for any year excludes depots opened in that year and the prior year.

3 International growth is shown in local currency.

4 2025 Full Year Profit Before Tax consensus published on the Company's website is an average of £331m.

Reported Group sales in the period were +2.8% ahead of the prior year and were ahead by +1.4% on a same depot basis, with gains in both price and volume. Our trade customers have benefited from our market-leading product line up, high stock availability and outstanding customer service.

Sales in the UK in the period were +2.4% and +1.1% on a same depot basis. Record sales were achieved during our peak trading period which ended on 1 November and £8m of incremental sales booked on the final day will be recognised in Period 12. This improves the growth rate to 3.1% in the UK and 3.5% for the Group, which is consistent with the run rate in H1.

The Group's International operations grew +14.7% ahead of the prior year and +9.3% on a same depot basis which recognises the successful performance of our in-stock, trade model in both these countries.

Commenting on Howdens' performance and outlook Andrew Livingston, Chief Executive said:

"Our continued strong trading momentum, including a record peak trading period, reflects the strength of our business model and the excellent execution of our strategic initiatives by our highly engaged and well incentivised teams.

"Growth in kitchens was achieved across all price levels with our 'Good' and 'Better' ranges benefiting from product innovation. Our 'Best' kitchens made significant progress with new product range launches, supported by our solid worksurface and paint-to-order offerings, proving very popular.

"Despite a challenging market, we continue to grow by supporting our customers with unmatched stock availability, our best-ever product line up, and outstanding service.

"We remain on track with the outlook for 2025 and expect to deliver Group profit before tax in line with current market expectations4."

Notes to editors:

1. About Howden Joinery Group plc

Howdens is the UK's number one trade kitchen supplier. In the UK, the company sells kitchens and joinery products to trade customers, primarily local builders. In 2024, the Group generated revenues of around £2.3 billion and profit before tax of £328.1 million. Howdens is a proud UK-based manufacturer, with a significant proportion of its kitchen and joinery products manufactured in-house at its two principal factories in Runcorn, Cheshire, and Howden, East Yorkshire. At the end of 2024, Howdens operated from 869 UK depots, 65 depots in France and Belgium and 13 depots in the Republic of Ireland.

2. Cautionary statement

Certain statements in this announcement are forward-looking. Although the Company 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.