Howden Joinery Group Plc delivered steady growth in 2025, increasing both revenue and profit despite what it continues to describe as a challenging UK kitchen market.
For the 52 weeks ending 27 December 2025, group revenue rose by 4.1% to £2.418 billion, up from £2.322 billion in 2024. UK sales increased by 3.8% to £2.333 billion, or 2.6% on a same-depot basis, as the company successfully balanced pricing and volume while gaining share in a modestly declining market.
International performance was stronger, with revenue climbing 13.5% to £84.8 million. On a same-depot basis and in local currency, this represented growth of 9.3%.
Profitability at Howden Joinery Group also improved. Gross margin increased by 110 basis points to 62.7%, supported by early-year price adjustments, higher sales volumes, and continued efficiencies in sourcing and manufacturing. As a result, gross profit rose to £1.515 billion, compared with £1.431 billion the previous year.
Operating profit grew by 4.7% to £355.3 million, with the operating margin edging up to 14.7%. Profit before tax increased 5.1% to £344.9 million, while basic earnings per share rose 7.9% to 49.2p.
The group generated £537.6 million in cash before working capital movements and finished the year with £344.5 million in cash, broadly unchanged from 2024. Capital expenditure totalled £156.5 million, including a £31 million freehold purchase of its Runcorn manufacturing site. Excluding this one-off investment, capex was £125.5 million, in line with the previous year, reflecting ongoing investment in new depots, digital systems, and manufacturing capacity.
Howden Joinery Group credited its trade-only business model with helping it gain further market share despite continued pressure in the kitchen market. During the year, the company opened 23 new UK depots—18 of them in the final trading periods—bringing the total to 891. It also reformatted 60 existing depots and maintains a long-term target of around 1,000 UK locations.
Investment in products and manufacturing remained a priority. The group continued its multi-year upgrade of its rigid cabinet and panel facility in Runcorn, aimed at increasing capacity and reducing costs over time.
Chief executive Andrew Livingston commented that the business made strong progress across all areas, achieving profit growth ahead of sales while continuing to invest in strategic initiatives. These efforts, he said, are helping trade customers win more business while improving operational efficiency and productivity.
Looking ahead to 2026, the company expects the UK kitchen market to stabilise following several years of decline, although competition will remain intense. It anticipates around £30 million in additional inflationary cost pressures but plans to offset these through productivity improvements where possible.
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