Howden Joinery Group (HWDN) Trading update summary

Sales performance

• Group reported sales rose 6.8% in Periods 7–11 and 5.1% year to date; pro forma growth was 2.1% and 2.7%, respectively.

• UK reported sales increased 6.8% in Periods 7–11 and 5.0% year to date; pro forma growth was 1.8% and 2.4%, respectively.

• International sales in local currency grew 6.2% in Periods 7–11 and 7.2% year to date; pro forma growth was 10.2% and 10.3%, respectively, excluding French depot closures.

• UK sales faced challenging macroeconomic conditions; TradeFest delivered record sales, supported by the product range and differentiated business model.

Trading and outlook

• DIY Kitchens performed in line with expectations post-acquisition; its online proposition expands the UK addressable customer base and is managed independently of Howden Trade.

• Engaged local teams, industry-leading product ranges and high stock availability supported continued growth in the trade-only business.

• Productivity and efficiency programmes supported competitive pricing and helped mitigate inflationary pressures across kitchen and joinery categories.

• FY 2026 Group underlying PBT expected in line with current market expectations; published consensus average is £361m.