Howdens has reported a 3.3 per cent increase in first-half sales to £1.03bn, supported by growth in both its UK and international operations.
Adjusted for one fewer trading day, group sales increased by 3.7 per cent during the 24 weeks to 13 June 2026.
UK depot revenue rose by 3 per cent to £990.5m, or by 3.3 per cent on a trading-day-adjusted basis. International sales increased by 12 per cent to £40.1m, with adjusted growth of 13 per cent.
Gross margin improved from 62.1 per cent to 62.8 per cent, reflecting price and volume growth alongside £8m of sourcing and manufacturing savings.
Underlying operating profit increased by 5.5 per cent to £128.1m, while underlying pre-tax profit rose by 4.3 per cent to £122.2m.
Statutory pre-tax profit fell by 1.2 per cent to £115.8m after Howdens incurred £6.4m of costs relating to its acquisition of DIY Kitchens. Profit after tax decreased from £89.6m to £88m.
The group delivered £19m of productivity and efficiency savings across its cost base, offsetting around £11m of inflationary pressure from payroll and property costs. It also invested £9m in strategic initiatives, including new depots, product development and its digital platforms.
Howdens ended the period with £332.8m in cash and an undrawn £150m revolving credit facility.
The group completed its £390m acquisition of online-only retailer DIY Kitchens after the period ended. DIY Kitchens generated revenue of £136m and EBIT of £37m during 2025, with sales growing at an average annual rate of 17 per cent over the past five years.
DIY Kitchens will continue to operate as a standalone, online self-service business serving non-trade customers. Howdens said the acquisition would expand its addressable UK market and was expected to enhance revenue, operating margin and earnings per share immediately.
Howdens operated 893 UK depots and 82 locations across France, Belgium and the Republic of Ireland at the end of the half. It expects to open around 25 additional UK depots during 2026 and sees potential for approximately 1,000 locations over the longer term.
Andrew Livingston, chief executive of Howdens, said: “Our first-half performance demonstrates the strength and growth potential of our differentiated, in-stock, trade-only business model.
“Our underlying operating profit margin was ahead of last year as we maintained our industry-leading gross margin and remained disciplined on costs, with ongoing investment in our strategic initiatives continuing to strengthen our competitive position.”
He added: “We recently completed the acquisition of DIY Kitchens, which is a fast-growing, online, self-service kitchen business that is complementary to our much larger full-service, trade-only kitchen and joinery model.”
Trading has remained in line with expectations and the group’s full-year outlook is unchanged. Howdens continues to assume that the UK kitchen market will remain broadly flat during 2026.
The group will complete its previously announced £100m share buyback during the second half and has increased its interim dividend by 2 per cent to 5.1p per share.
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