13 July 2021
HOWDEN JOINERY GROUP PLC
("Howdens" or "the Group")
UPDATE ON 2021 HALF YEAR RESULTS AND OUTLOOK FOR 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
Howdens achieved a strong first half performance, ahead of our expectations with Group revenue of almost £785m (2020: £465.0m; 2019: £652.6m).
Howden Joinery UK depot revenue increased to approximately £764m which, compared to the first half of 2019, was an increase of 19.8% and by 15.3% on a same depot basis1. Since the period end, this pattern of trade has continued and we remain cautiously optimistic in our outlook for the second half and our all-important peak trading period.
Whilst we are aware of the economic uncertainties that we face and the tough comparators from the second half of 2020, we remain confident in our business model for the future. Accordingly, we are currently expecting pre-tax profits of around £300m for 2021 as a whole.
Howdens will publish its 2021 half year results on Thursday 22 July 2021.
1Same depot basis for any year excludes depots opened in that year and the prior year.
For more information, please contact:
Head of Investor Relations +44 (0) 7739 778187
Citigate Dewe Rogerson
Kevin Smith +44 (0)7710 815924, Ellen Wilton +44 (0)7921 352 851
For the purposes of UK MAR, the person responsible for making this announcement is Forbes McNaughton, Company Secretary of Howden Joinery Group Plc.
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 755 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.
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.