Howden Joinery makes positive start to year

(Sharecast News) - Howden Joinery said on Tuesday that it had made a positive start to 2026, with trading in line with its full-year outlook after underlying group revenue rose in the first 16 weeks of the year. The FTSE 100 kitchen and joinery supplier said underlying group sales were 3.7% ahead of the prior year in the first four trading periods to 18 April, or 2.8% higher on a same-depot basis.

It noted that figures were adjusted for two fewer trading days than in the same period of 2025, worth about £11m.

Underlying UK sales rose 3.5%, or 2.6% on a same-depot basis, while international sales increased 9.1%, or 7.9% on a same-depot basis, against what the company described as "very strong" prior-year comparators. International comprises Howdens' depots in France, Belgium and the Republic of Ireland.

The company said it had successfully implemented price increases across all geographies at the start of the year as it continued to optimise the balance between margin and volume.

Howdens said its supply chain remained robust despite ongoing instability in the Middle East, adding that its near-sourced, vertically integrated business model was resilient across macroeconomic conditions.

It said stock availability remained "very good", supporting trade customers in securing and delivering work, and that fuel expenses had been hedged through to the end of the year.

"We will continue to stay vigilant in the current environment, keeping a sharp focus on productivity, efficiency and disciplined cost control," the company said.

Howdens said it expected to invest about £30m in strategic initiatives this year to support future growth.

It planned to open around 25 new depots in the UK and five in the Republic of Ireland during 2026, while refurbishing around 45 older UK depots.

The firm said it was making progress with new product introductions for 2026, including 24 new kitchens, alongside continued investment in manufacturing and supply chain capabilities.

It added that the expansion of its Runcorn manufacturing facility was progressing as planned.

Howdens said it had traded well in the first four periods of the year but noted that it was still early in the financial year and that sales were weighted towards the second half, reflecting its autumn peak trading period.

"We remain confident in our differentiated business model and we are on track with the outlook for 2026," the company said.

The group said it would release its half-year results on 23 July.

At 1034 BST, shares in Howden Joinery were down 0.25% at 813p.

Reporting by Josh White for Sharecast.com.

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