23 November 2006

Galiform Plc, the owner of Howden Joinery (Howdens), issues the following trading statement for the 44 weeks to 28 October 2006. This includes the important October period (period 11), which is Howdens' busiest time of year. It excludes detailed commentary on the MFI retail business, which was sold on 18 October 2006 and will be treated as a 'discontinued operation' in the results for 2006.


Overall, the Group's performance has followed the pattern seen in the first half of the year. At this stage, we expect profit before tax and exceptional items from continuing operations to be in line with market expectations for 2006. The preliminary results for the 53 weeks ended 30 December 2006 will be released on 6 March 2007.

Howden Joinery

Business conditions encountered by Howdens are unchanged from the first half of the year.

For the year to date, the performance of mature depots, which have typically been operating for 6 years or more, has continued to move forward and we have seen the benefit of the maturing profile of sales from newer depots and new depot openings. As a result, year to date sales have grown by 8.6%, 5.2% on a same depot basis. The gross margin percentage is in line with that seen in the first half of the year.

Underlying performance in the second half of the year has been similar to the first half. Since the end of the first half of the year, sales have increased by 11.7%, 8.0% on a same depot basis, compared with the same period last year (see note 1).

As of today, 32 new depots have been opened in 2006 and it is anticipated that, as expected, around 40 will have been opened by the end of the year.


Demand from Howdens and MFI Retail has remained in line with that seen in the first half of the year. The benefits expected from the move to greater external sourcing of products and the closure of the Scunthorpe and Stockton factories in May will be reflected in the results of Supply for the second half of the year.

Note1: The year to date increase in sales is less than the increase since the end of the first half of the year because of the high level of sales seen in period 6 in 2005, when Howdens undertook a one-off promotion. Excluding this period, the year to date increase in sales is similar to that seen since the end of the first half of the year.




Gary Rawlinson,
Head of Investor Relations

0044 (0)20 7535 1127

Galiform Plc


Fiona Laffan


0044 (0)20 7404 5959

Anna Jones


HOWDENS Making space more valuable

Business Model and Strategy

Find out more about our business model and strategy, the markets in which we operate and our strategic approach to protect our unique business model and ensure that the business continues to grow.


As a familiar sight across towns and cities in the UK and Europe, our depots are always within easy reach, so a trade professional never has far to travel to find their nearest Howdens. Get to know more about how each one operates.


Our sustainable behaviour is at the heart of our business and enables us to reduce some of our risks. We take great pride in ensuring that our business positively impacts the world around us and the people within it.


We are passionate about supporting the local communities we operate in, which is why our depots and support staff actively seek ways to give something back. Whether it is running half marathons or sponsoring local Scout groups, discover the many ways we help good causes.


With around 80 kitchen ranges, our exclusive Lamona appliance brand, and thousands of products across joinery and hardware, learn why our builders have come to trust the range and quality of the products we offer.

People and Careers

The Sunday Times named Howdens as one of the top 25 big companies to work for. Discover why Howdens is a great place to work, how we develop our people and reward them, whilst building a culture with an entrepreneurial spirit.

Financial Results

Download copies of the latest financial results for Howdens both past and present including the associated presentations and Interim Management Statements released between results announcements.


Howdens is a responsible business which was founded on the tenet that the Company should be worthwhile for all concerned, with a commitment to the people within its reach and the wider world. Here we provide the links to the framework that informs our decisions and outcomes.