London · Delayed Price · Currency is GBP · Price in GBX Howden Joinery Group Earnings Call Transcripts
Fiscal Year 2026
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Sales and profits grew in H1 2026, with strong margins and disciplined cost control despite inflation. The acquisition of DIY Kitchens expands the customer base, and the outlook for the year remains unchanged, with continued investment in growth and shareholder returns.
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The acquisition of a leading online kitchen retailer for GBP 390 million expands access to non-trade customers and complements the existing trade-focused business. The deal is expected to be immediately accretive, with strong growth prospects and minimal overlap between customer bases.
Fiscal Year 2025
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Sales and profit grew year-over-year, with strong cash flow, improved margins, and increased shareholder returns. Market share gains were achieved across all price points, and international operations expanded. Strategic investments and a new £100 million buyback support continued growth.
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Sales and profit grew year-over-year despite a contracting UK kitchen market, with margin expansion, strong cash flow, and continued investment in depots, manufacturing, and digital. International operations and new product launches contributed to growth.
Fiscal Year 2024
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Delivered resilient results with flat group sales, sector-leading margins, and strong cash flow despite a contracting market. Continued investment in depots, digital, and product innovation, with a new £100m share buyback and increased dividends.
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Sales grew 4.3% year-over-year with strong UK market share gains and robust international growth. Gross margin remained sector-leading, supporting increased investment and a higher interim dividend. Full-year guidance is maintained despite ongoing macroeconomic and cost headwinds.