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UPDATE 1-Galiform sees FY profit meeting management hopes

Published 01/15/2009, 02:20 AM
Updated 01/15/2009, 02:24 AM
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(Adds details from statement)

LONDON, Jan 15 (Reuters) - Britain's Galiform Plc., which owns Howden Joinery, the supplier of kitchen units to small builders, said its autumn performance worsened due to more difficult trading, but said it expected annual profit to meet its hopes.

The group, which trades from about 456 UK depots, said on Thursday that total sales in the last three periods of the year, from Oct 6 to Dec 27, were just over 8 percent lower than the same periods in 2007.

Sales in the last period of the year were virtually unchanged from 2007, but were about 8 percent worse after allowing for two extra days' trading in 2008.

Howden Joinery UK depot sales for the year of 782.9 million pounds ($1.14 billion) rose 1.9 percent from the 768.4 million achieved in 2007, but fell by 3.1 percent on a same depot basis.

"The profit outcome for the year is anticipated to be in line with management's expectations," the group said in a trading statement. (Reporting by Philip Waller; Editing by Mike Nesbit)

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