Howden Joinery Group (HWDN) Q3 2025 TU earnings summary

Executive summary

• Reported group sales grew 2.8% year-over-year for periods 7 to 11, with same depot sales up 1.4%.

• UK sales increased 2.4% (1.1% same depot), with record sales during the peak trading period ending 1 November.

• International operations saw strong growth, up 14.7% year-over-year (9.3% same depot).

• Growth achieved across all kitchen price levels, with new product launches driving 'Best' range performance.

Financial highlights

• Group sales for the year-to-date rose 2.7% (3.0% same depot), with UK up 2.8% (1.4% same depot) and International up 13.4% (9.6% same depot).

• £8m of incremental UK sales booked on the final day of the period will be recognized in Period 12, improving growth rates to 3.1% for UK and 3.5% for the Group.

• 2025 full year profit before tax consensus is £331m.

Outlook and guidance

• Group profit before tax for 2025 expected to be in line with current market expectations.

• Continued focus on supporting customers with stock availability, product innovation, and service.