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2014 Year-End Update

08 January 2015

Howden Joinery Group Plc ('the Group') is today issuing an update on trading for the year.

The Board is pleased to report that the good trading performance seen in 2014 until the end of period 11 (as reported on 5 November 2014) continued for the remainder of the year.

As a result, it is expected that profit before tax for 2014 will be above the range of market expectations 1.

Trading

Total sales from Howden Joinery UK depots for 2014 of approximately £1070m (2013: £940.7m) were up 14%, rising 11% on a same depot basis.

The Group has also seen good performance on other key measures, including gross margin.

Business developments

Our new depots continue to perform well, 30 depots having opened in the UK during 2014, bringing the total to 589. In addition, we have recently opened two depots in Belgium.

Note 1: The range of analyst expectations for profit before tax and exceptional items from continuing operations for 2014 is believed to be £172m to £179m.

Next scheduled announcement

The Group will release its 2014 Preliminary Results on 26 February 2015.

 

Enquiries

Investors/analysts:
Gary Rawlinson
Head of Investor Relations +44 (0)207 535 1127
+44 (0)7989 397527
Media:
Maitland +44 (0)207 379 5151
Greg Lawless/Angus Maitland

 

Note for editors:

Howden Joinery Group Plc is the parent company of Howden Joinery. In the UK, Howden Joinery is engaged in the sale of kitchens and joinery products to trade customers, primarily small local builders, through nearly 600 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 has a small operation in France and Belgium.

 

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