UK's Howden Joinery FY revenue slightly beats estimates; sets £100 mln share buyback

Howden Joinery

26/02/2026 07:10

Overview

UK kitchen supplier's FY 2025 revenue slightly beat analyst expectations

Gross profit margin improved by 110bps to 62.7%

Company announced new £100 mln share buyback for 2026

Outlook

Company expects UK kitchen market to be level year-on-year in 2026

Howden Joinery aims to maintain profitable balance between price and volume in 2026

Company anticipates 2026 profit before tax to meet market expectations of £354m

Result Drivers

REVENUE GROWTH - Group revenue increased by 4.1% to £2,418 mln, driven by balanced pricing and volume strategies, and market share gains despite kitchen market headwinds

MARGIN IMPROVEMENT - Gross margins improved by 110bps to 62.7%, supported by revenue growth and efficiencies in sourcing and manufacturing

COST SAVINGS - Achieved £41 mln of productivity and efficiency savings in the total cost base

Company press release: ID:nRSZ4263Ua

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
Slight Beat*
GBP 2.42 bln
GBP 2.40 bln (16 Analysts)
FY Gross Margin
62.70%
FY Operating Profit
GBP 355.30 mln
FY Pretax Profit
GBP 344.90 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the construction supplies & fixtures peer group is "buy"

Wall Street's median 12-month price target for Howden Joinery Group PLC is GBp952.50, about 11.3% above its February 25 closing price of GBp856.00

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 17 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)