London, July 3, 2026, 22:01 BST
- Howden Joinery closed Friday at 833p, gaining 0.91%. The FTSE 100 added 0.25%.
- DIY Kitchens brings in 2025 EBIT that’s around 10% of Howdens’ forecast operating profit for that year, while sales would make up roughly 6%.
- At Friday’s close, the stock portion of the DIY Kitchens deal is around £106 million, up from £97.5 million when the deal was signed.
- Howden Joinery Group Plc is set to report half-year results on July 23.
Howden Joinery Group PLC (LON:HWDN) closed Friday at 833p, rising 7.5p, or 0.91%. The stock moved between 824.5p and 841p during the session. Davy put the last trade at 833p as of 22:01 London time, with a 20-minute delay.
For investors, Friday’s price move tells less. The bigger point is the margin gap in the DIY Kitchens deal. DIY Kitchens posted £37 million EBIT on £136 million 2025 sales. Howdens reported £355.3 million operating profit on £2.418 billion sales last year. That puts the acquired business at just 5.6% of Howdens’ 2025 revenue, but 10.4% of its operating profit.
| 2025 metric | Howdens | DIY Kitchens | DIY as % of Howdens |
|---|---|---|---|
| Revenue | £2,418.0 mln | £136 mln | 5.6% |
| EBIT / operating profit | £355.3 mln | £37 mln | 10.4% |
| EBIT margin | 14.7% | 27.2% | up 12.5 pts |
This deal comes ahead of the July 23 half-year results. As of May 19, before the purchase, analysts saw 2026 revenue at £2.536 billion and EBIT at £372 million. DIY Kitchens’ 2025 EBIT is close to 10% of that EBIT number, but its sales make up just 5.4% of the consensus revenue.
The share leg is the second part of the deal. Howdens is putting up £292.5 million in cash and £97.5 million in Howdens shares. Shares were priced at 766p each at signing. At Friday’s close of 833p, the 12.7 million shares come out to about £106 million, or around £8.5 million more than the original value.
| DIY Kitchens consideration | Value at signing | Value at 833p |
|---|---|---|
| Cash | £292.5 mln | £292.5 mln |
| Share leg | £97.5 mln | nearly £106.0 mln |
| Total market value of consideration | £390.0 mln | close to £398.3 mln |
Howdens wrapped up the deal on June 23, after new ordinary shares issued to the seller started trading on the London Stock Exchange. With that, all conditions were met and the completion risk, which was still there when the deal was announced earlier in June, dropped away.
The main business is still feeling pressure from the UK repair-and-remodel cycle. In April, Howdens reported a 3.7% rise in underlying group revenue for the first 16 weeks of 2026, with UK sales up 3.5% and international sales climbing 9.1%. The company also said sales tend to pick up in the second half during the autumn peak.
Howdens CEO Andrew Livingston said back in February that the company had “gained market share” and kept its 2026 outlook for the UK kitchen market flat year on year. In the announcement about DIY Kitchens, Livingston said the deal brings Howdens direct access to “non-trade end customers”. Howden Joinery Group Plc
The key risk is if the two models get mixed. Howdens sticks with its trade-only depots for builders. DIY Kitchens stays online, selling direct to customers, and will keep running separately online. Howdens also said it is not changing its £100 million buyback for 2026.
