Interim Management Statement

26 April 2012

Howden Joinery Group Plc ('the Group') is today publishing its Interim Management Statement covering the year to date. Trading information is in relation to the first four periods of 2012 (to 14 April 2012).


In the first four periods (16 weeks) of 2012, Howden Joinery UK revenue was up 5.9%, increasing by 4.0% on a same depot basis. Within this, total revenue in the two most recent periods was up 9.4%, helped by the relatively weak comparative periods.

Direct comparisons with last year are made difficult by a number of factors, including the timing of bank holidays and price increases, the latter having been in February this year and June last year.
However, the Board is pleased with performance in the year to date, whilst remaining cautious about the outlook for the rest of the year, given the prevailing economic environment.

So far in 2012, the gross profit margin performance is in line with market expectations for the full year1.

Note 1: The current range of market expectations is believed to be 59.3% to 59.8%.

Legacy properties

The liability for a further legacy property has been removed since the publication of our 2011 Preliminary Result, a small cash payment being made to the landlord of the property.

For the year to date, the leases of three properties have been terminated at a cost of £7.7m, mitigating total future liabilities that would have totalled nearly £20m. As a result, the Group now has 18 legacy properties remaining.

Depot openings

We are currently planning to open around 20 new depots this year. With one new depot having been opened so far, Howden Joinery is now trading from 510 depots in the UK.

There have been no other material changes to the financial position of the Group in the period save as a result of the usual impact of the level of trading and those other matters disclosed herein.

Next scheduled announcement

The Group will release its 2012 Half Yearly Report on 19 July 2012.

Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Brunswick +44 (0)207 404 5959
Kate Holgate
Zoe Bird

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.