The Howden Joinery Group Plc Board is recommending a final dividend for 2024 of 16.3p per ordinary share (2023: 16.2p per ordinary share), resulting in a total dividend of 21.2p per ordinary share (2023: 21.0p per ordinary share). The total dividend represents a year-on-year increase of 1.0% and, if approved by shareholders at the AGM in May the final dividend will be paid on 23 May 2025 to shareholders on the register on 11 April 2025.
Other financial highlights include:
- Group revenue of £2,322.1m was in line with last year.
o UK revenue of £2,247.4m was 0.3% ahead of last year reflecting ongoing market share gains, despite a contraction in the UK kitchen market
o International revenue was 9.7% ahead of last year in local currency with good progress in building out the trade-only business model in France and the Republic of Ireland.
- Maintained their industry leading gross margin of 61.6%, which included the benefit of purchasing and manufacturing efficiencies.
- They have offset the majority of inflationary costs increases through efficiency savings and cost control while investing in their medium-term strategic initiatives.
- Investment included 29 new depots and 76 depot reformats in the UK, 11 new kitchen ranges, further digital development and upgrades to manufacturing and supply chain.
- Profit before tax of £328.1m was in line with last year.
- Strong cash generation and robust balance sheet with year-end cash of £343.6m.
- New £100m share buyback announced today.
