Howden Joinery Group: Data Cabinet - What the Latest Data Tells Us

研报英文原文证据摘录

Howden Joinery Group: Data Cabinet - What the Latest Data Tells Us

UK | Building, Construction & Housebuilders

Howden Joinery Group EquityJulyResearch15, 2026

FLASH NOTEData Cabinet - What the Latest Data Tells Us

Progress in UK construction indicators such as mortgage availability and RATING HOLD

consumer confidence stalled into June (albeit did not retreat) after broad PRICE 792.50p^

upticks in May gave room for more optimism. However, Howdens-specific PRICE TARGET | % TO PT 976.00p | +23%

data offers a little more comfort with growth in app downloads and web 52W HIGH-LOW 981p - 713p

hits gaining momentum into June, notably better than trends at most peers FLOAT (%) | ADV MM (USD) 99.5% | 20.44

- this likely suggests ongoing outperformance against a difficult market at MARKET CAP £4.3B | $5.7B

1H26 results. TICKER HWDN LN

^Prior trading day's closing price unless otherwise

noted.

Howdens will report 1H26 results next week on Thursday 23 July - click here for our preview.

Exhibit 1 - UK housing transactions* - Although Exhibit 2 - Mortgage product availability*

a key lead indicator for residential RMI, it is - Sequentially stable in June after small

difficult to gauge underlying trends through improvement in May

recent volatility due to comparables comprising 35

changes in stamp duty last year '000 34

180 120% 32

100%

160 31

80%

140 60% 30

40% 29

120 20% 28

100 0% 27

-20% 26

-40% 25

60 -60% Apr-25 May-25 Jun-25 Jul-25 Aug-25 Sep-25 Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 Jul-25 Sep-25 Nov-25 Jan-26 Mar-26 May-26 . Source: Jefferies, Twenty7Tec. *Total mortgage products on

UK housing transactions, '000 (lhs) YoY change, % (rhs) Twenty7Tec's systems. Note: Data is now only available on a

.