Howdens Joinery

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Howden Joinery Group plc
Public
Traded asLSEHWDN
IndustryFurniture
Founded1995
FounderMatthew Ingle
HeadquartersLondon, United Kingdom
Key people
Richard Pennycock, (Chairman)
Andrew Livingston, (CEO)[1]
ProductsKitchens and joinery
Revenue£1,511.3 million (2018)[2]
£240.1 million (2018)[2]
£190.4 million (2018)[2]
Websitewww.howdens.com

Howden Joinery Group plc is the parent company for the Howdens Joinery business (Howdens), a supplier of kitchens and joinery products to the building trade. 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).[3] In October 2006, MFI sold its loss making MFI retail business to Merchant Equity Partners for £1, while retaining Howdens.[4][5] At the same time, the name of MFI was changed to Galiform plc.[4]

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).[6]

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.[7] In September 2010, Galiform changed its name to Howden Joinery Group plc.[8]

Operations[edit]

Howdens Joinery in Knaresborough

Howdens' kitchens are manufactured at plants in Runcorn and Howden.[9] The company has some 668 depots in the United Kingdom and some 24 depots in Europe where its trading names include "Houdan Cuisines" and "Lamona Cuisines".[9]

References[edit]

  1. ^ "Andrew Livingston to join Howdens as CEO Designate". FT.com. 12 January 2018. Retrieved 18 April 2018.
  2. ^ a b c "Preliminary Results 2018" (PDF). Howdens Joinery. Retrieved 18 March 2019.
  3. ^ "Onwards and upwards". TTJ. 10 December 2012. Retrieved 24 March 2013.
  4. ^ a b MFI sells store chain in £1 deal BBC News, 22 September 2006
  5. ^ Treanor, Jill (September 23, 2006). "MFI sold for £1 and repackaged as Galiform". London: The Guardian. Retrieved May 3, 2010.
  6. ^ "Joinery group Galiform and plumbing supplier Wolseley hit by fallout from building sector". The Guardian. 6 March 2009. Retrieved 22 May 2013.
  7. ^ "2011 Preliminary Results" (PDF). Retrieved 22 May 2013.
  8. ^ Sturdy trading at Howden Investors Chronicle, 4 March 2011
  9. ^ a b "Is life as good as it gets for Howdens?". Investors Chronicle. 2 November 2018. Retrieved 18 March 2019.