Howdens Reports 3.9% Rise in LFL Revenue

Howden Joinery Group plc has announced a trading update for the first four periods of 2019 (16 weeks to 20 April 2019).

Trading

Howden Joinery UK increased revenue by 5.7% overall and by 3.9% on a same depot basis, compared to the equivalent periods last year. Sales growth was driven by an increase in prices in January, against the backdrop of strong volume comparators in 2018.

Looking forward, we are on track with our plans for the year as a whole although remain watchful of market conditions and the further impact that Brexit may have on the economy.

Business developments

Howden Joinery trades from 702 depots in the UK, with 8 new depots opened so far this year. We plan to open around 40 new depots in the UK during 2019, including 5 in Northern Ireland.

Share repurchase

The Group has acquired 4.8m shares in the year to date for a consideration of £24.0m.

Next scheduled announcement

The Group will release its 2019 Half Year Report on 25 July 2019.

Source : Howden Joinery Group

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