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Investing.com -- Howden Joinery Group has maintained steady sales growth during its peak trading period of September-October 2025, despite elevated UK macro risks and no improvement in the UK kitchen market.
The company reported group sales growth of 2.8% year-over-year for periods 7-11, compared to 3.2% in the first half of 2025.
However, after adjusting for the peak trading period ending on November 1 this year, which affected the timing of approximately £8 million in sales, the company estimates adjusted growth would have been 3.5%, consistent with the first-half run-rate.
When excluding the impact of working days, the adjusted growth rate for periods 7-11 was approximately 4%, aligning with the 3.4% adjusted growth rate reported for the first half of 2025.
Management indicated that pricing accelerated to approximately 2% year-over-year during periods 7-11, up from about 1% in the first half of the year. This suggests volumes grew 1-2%, outperforming the underlying market which has maintained a decline of around 3%.
The company’s highest-end kitchen products grew by double digits, with good growth also reported across lower price points throughout the period.
While no specific profitability metrics were provided for the recent trading period, management noted that gross margin has remained at similar levels to the first half of 2025.
The company reiterated its guidance for 2025 profit before tax to be in line with current market expectations of approximately £331 million, equivalent to earnings before interest and taxes of around £340 million.
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