Updates & Ideas

Howden Joinery - Potential beneficiary when RMI recovers

April 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Howden Joinery, the market leading supplier of kitchen cabinets, worktops and other joinery products to local builders, boasts a track record few in its industry can match. After passing sales of £0.5bn in 2003, it smashed the £1bn barrier in 2013 and £1.5bn in 2018. As the Government threw money around like confetti during the pandemic, demand for its products soared as bored locked-down consumers spent lavishly on doing up their homes. With as much as 90% of its sales derived from the residential market and 95% from RMI (repair, maintenance and improvement), Howdens was clearly well-placed to rake it in with sales peaking at a massive £2.3bn and pretax profit hitting £405.8m in FY’22. Although last year’s sales were flat and profit de ...

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Howden Joinery (April 2022)

Howden Joinery (May 2021)

Howden Joinery (January 2021)

Howden Joinery (September 2020)

Howden Joinery (May 2020)

Howden Joinery - Kitchen cabinet maker to benefit from surge in pent up investment (January 2020)

Howden Joinery - Weaker outlook provides excuse to bank profits (April 2016)

Howden Joinery - 12.8% surge in underlying sales (January 2016)

Howden Joinery - Accelerating investment pegs back shares (September 2015)

Howden Joinery - Shares prosper after favourable General Election result (July 2015)

Howden Joinery (April 2015)

Howden Joinery - Kitchen cabinets supplier enjoying rapid eps growth (February 2015)

Howden Joinery - Kitchen supplier enjoys third broker upgrade in 8 months (September 2014)

Howden Joinery - 8.5% growth in like-for-like sales (June 2014)

Howden Joinery - H2 revenues rise 10% (April 2014)

Howden Joinery - Housing boom lifts demand for kitchens (January 2014)

Howden Joinery - UK depot sales up 5.5% (September 2013)

Howden Joinery - Gain to date: 74% (April 2013)

Howden Joinery - Low cost, high returns model for supplier of kitchens to local builders (August 2012)

Howden Joinery - Sales still growing well (June 2011)

Howden Joinery - Introduce stop-loss of 105p (May 2011)

Howden Joinery - Current trading still strong (April 2011)

Howden Joinery - Kitchen supplier triggers third upgrade in seven months (February 2011)

Howden Joinery - Kitchen supplier likely to smash forecasts (December 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Howden Joinery - Potential beneficiary when RMI recovers

April 2024

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