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Strong Q1 Growth At Howdens

Howdens branch SC

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 basis(1), 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 basis(1).

On a local currency basis, depot revenue in Continental Europe increased by 108.0% and by 105.9% on a same depot basis(1), compared to the equivalent periods last year. Compared to 2019, revenue increased by 37.6% overall and by 19.7% on a same depot basis(1).

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.

Source : Howden Joinery Group PLC

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29 April 2021

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