Feb 26 (Reuters) - Kitchen and interior fittings supplier Howden Joinery on Thursday announced a 100 million pound ($135.52 million) share buyback after reporting a rise in annual pretax profit,
Howden Joinery Exceeds Profit Forecasts, Announces $136M Buyback
Feb 26 (Reuters) - Kitchen and interior fittings supplier Howden Joinery beat annual profit estimates on Thursday and unveiled a 100 million pound ($135.52 million) share buyback for 2026, sending its shares more than 10% higher.
Howden Joinery reported profit before tax of 344.9 million pounds for 2025, topping analysts' expectations of 332 million pounds, as price hikes helped offset softer demand.
Howden Joinery's Financial Performance
High inflation and costs of living have dampened demand in the UK, but Howden has been expanding its product offerings and opening more stores to retain its core customer base of tradespeople.
"For 2026, our planning assumption is that the UK kitchen market will be level year-on-year, following several years of decline, in what remains a competitive marketplace.", said CEO Andrew Livingston.
The company said it expects demand to stabilise in the year ahead and remains on track to meet market expectations for 2026.
Market Challenges and Company Strategy
Jefferies analysts, however, said that a broader market recovery remained "elusive," adding that the profit beat was driven by company-specific factors.
($1 = 0.7379 pounds)
(Reporting by Simone Lobo in Bengaluru; Editing by Mrigank Dhaniwala and Sonia Cheema)
