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Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

Interim Management Statement

28 April 2011

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 2011 (to 16 April 2011).

The Board is pleased to report that the business has performed satisfactorily so far this year. In addition, further 'legacy' property agreements have reduced aggregate future costs by around £17m.

Trading

In the first four periods (16 weeks) of 2011, Howden Joinery UK depot revenue was up 7.8%, increasing by 5.2% on a same depot basis.

Direct comparisons with last year are made difficult by a number of factors. These include the impact of cold weather at the start of last year on the pattern of trading, and the timing of bank holidays and the implementation of price increases.

Taking these factors into account, management estimate that underlying sales growth is consistent with market expectations for total sales growth for the full year of around 5%.

So far in 2011, the gross profit margin is similar to that seen in 2010 as a whole.

Legacy properties

The Group continues to manage its 'legacy property' portfolio proactively, the liability for a further five properties having been removed since the publication of our 2010 Preliminary Results on 3 March 2011. These transactions involved making cash payments to the landlords of the properties totalling £5.2m, in return for being released from all obligations in respect of these leases. In so doing, total future costs of around £17m have been mitigated.

For the year to date, the leases of eight properties have been terminated at a cost of £9.1m, thereby mitigating total future costs of around £30m. With two leases having expired during the period, the Group now has 30 legacy properties remaining.

Depot openings
With five new depots having been opened so far this year, Howden Joinery is now trading from 494 depots.

There have been no 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.

Matthew Ingle, Chief Executive commented:

"We are pleased with our performance so far this year, which is consistent with market expectations for 2011. The strengths and uniqueness of our business model, and our continuing investment in all aspects of the business, set us apart and continue to enable us to make progress in the ongoing tough market conditions."

Next scheduled announcement

The Group will release its 2011 Half Yearly Report on 21 July 2011.

 

Enquiries
Investors/analysts:
Gary Rawlinson +44 (0)207 535 1127
Head of Investor Relations +44 (0)7989 397527
Media:
Brunswick +44 (0)207 404 5959
Kate Holgate
Kate Millar

 

HOWDENS Making space more valuable

culture & people

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.
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Our depots

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 history

Sustainability

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.
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In the community

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.
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Our products

With more than 80 kitchen styles, an exclusive appliance brand, Lamona, 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.
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People & 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.
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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.
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Governance

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.