Trading Update

RNS Number : 4609D

Howden Joinery Group PLC

27 April 2017

 

27 April

Howden Joinery Group Plc

TRADING UPDATE

Howden Joinery Group Plc today announces a trading update for the first four periods of 2017 (16 weeks to 15 April 2017).

Trading

Howden Joinery UK revenue increased by 3.9% overall and by 2.4% on a same depot basis compared to the equivalent period last year.

While currency movements and additional expected operating costs will impact our profitability during H1 2017, these have been partially offset by sales initiatives implemented since Q4 2016. As a result, our performance so far this year is in line with our previous expectations.

We believe that current market conditions are stable, albeit we remain watchful. 

Business developments

We are on track with our plans to open 30 new depots in the UK during 2017. Howden Joinery now trades from 650 depots in the UK, with 8 new depots opened so far this year.

The Group has acquired 2.04m shares in the year to date for a consideration of £8.9m, as part of a £80m share buyback programme announced in February 2017.

Next scheduled announcement

The Group will release its 2017 Half Yearly Report on 20 July 2017.

Enquiries

Investors/analysts:

Paul Sharma

Head of Investor Relations + 44 (0) 20 7535 1146/[phone]

Media:

Maitland

Kate O'Neill/Tom Eckersley/Robbie Hynes + 44 (0) 20 7379 5151

 

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