Howdens Joinery

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Howden Joinery Group plc
Public (LSEHWDN)
Industry Furniture
Founded 1995
Key people
Will Samuel, (Chairman)
Matthew Ingle, (CEO)
Products Kitchens and joinery
Revenue £1,090.8 million (2014)[1]
£189.8 million (2014)[1]
£148.7 million (2014)[1]
Website www.howdens.com

Howden Joinery Group plc is the parent company for the Howdens Joinery business (Howdens), a leading supplier of kitchens and joinery products, which are sold to small builders. It is listed on the London Stock Exchange, and is a constituent of the FTSE 250 Index.

History[edit]

The company's old logo

Howdens was established in 1995, as a business unit within MFI Furniture Group plc (MFI).[2]

In October 2006, MFI sold its loss making MFI retail business to Merchant Equity Partners for £1, while retaining Howdens.[3][4] At the same time, the name of MFI was changed to Galiform plc.[3]

In November 2008, the MFI retail business entered administration, Galiform becoming liable for the costs associated with 46 MFI stores. An exceptional charge of £99.7m was incurred in 2008 to cover these costs. At this stage, Galiform was liable for the costs of over 80 properties previously used by MFI (the legacy properties).[5]

By December 2012, the legacy properties had been reduced by over 80%, mainly due to landlords agreeing to the early termination of the associated leases in return for a one-off payment.[6] In September 2010, Galiform changed its name to Howden Joinery Group plc.[7]

Operations[edit]

Today, Howdens' kitchens are manufactured at plants, which are located in Runcorn & Howden.[8] The company has over 540 depots in the United Kingdom, and also trade from several depots around Paris, France, under the name of Houdan Menuiseries S.A.[9]

References[edit]

  1. ^ a b c "Preliminary Results 2014" (PDF). Howdens Joinery. Retrieved 28 March 2015. 
  2. ^ "Onwards and upwards". TTJ. 10 December 2012. Retrieved 24 March 2013. 
  3. ^ a b MFI sells store chain in £1 deal BBC News, 22 September 2006
  4. ^ Treanor, Jill (September 23, 2006). "MFI sold for £1 and repackaged as Galiform". London: The Guardian. Retrieved May 3, 2010. 
  5. ^ "Joinery group Galiform and plumbing supplier Wolseley hit by fallout from building sector". The Guardian. 6 March 2009. Retrieved 22 May 2013. 
  6. ^ "2011 Preliminary Results" (PDF). Retrieved 22 May 2013. 
  7. ^ Sturdy trading at Howden Investors Chronicle, 4 March 2011
  8. ^ "Howdens". Retrieved 1 May 2015. 
  9. ^ "Howden Joinery Share Price - HWDN - Morningstar". morningstar.co.uk. Retrieved 28 March 2015.