Howdens Joinery

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Howden Joinery Group plc
Type Public (LSEHWDN)
Industry Furniture
Founded 1995
Headquarters London, UK
Key people Will Samuel, (Chairman)
Matthew Ingle, (CEO)
Products Kitchens and joinery
Revenue £956.5 million (2013)[1]
Operating income £142.5 million (2013)[1]
Net income £99.8 million (2013)[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 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 the end of 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]

Howdens' kitchens are manufactured at plants located in Runcorn and Howden. The company has circa 500 depots in the UK and also trade from several depots around the Paris area in France under the name of Houdan Menuiseries S.A.[8]

References[edit]

  1. ^ a b c Preliminary Results 2013
  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". Retrieved 22 May 2013. 
  7. ^ Sturdy trading at Howden Investors Chronicle, 4 March 2011
  8. ^ Morning Star