Trading Statement

RNS Number : 9907H

Howden Joinery Group PLC

09 December 2020

 

9 December 2020

Howden Joinery Group Plc

('Howdens' or the 'Company')

TRADING UPDATE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

Howdens today announces an update to recent trading.

Recent trading

Since the Company's announcement on 2 November 2020, trading has continued to be strong, with Howdens UK depots' total revenue for Period 12 (1 November 2020 to 28 November 2020) increasing by 18.8% and by 17.2% on a same depot basis. For the year to date (Periods 1 to 12), total UK revenue was 5.1% below that for 2019.

Full year profit

Guidance on gross margin is unchanged and the continued recent strong trading performance means that the Company now expects FY2020 profit before tax to be around 10% above the top end of current analyst forecasts^*.

Next scheduled announcement

The Group expects to release its 2020 Preliminary Results, including an update on market conditions, on 25 February 2021.

*The range of analyst expectations for profit before tax for 2020 is believed to be £123m to £152m.

 Enquiries

 Investors/analysts:

 Guy Stainer, Head of Investor Relations [phone]

 Media:

 Citigate Dewe Rogerson

 Kevin Smith [phone], Nick Hayns + 44 (0) 20 3926 8503

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 more than 730 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 around 30 depots in France and Belgium.

For more information: www.howdenjoinerygroupplc.com

 

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