💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

UPDATE 1-Galiform sees FY profit meeting management hopes

Published 01/15/2009, 02:20 AM
Updated 01/15/2009, 02:24 AM
TTEF
-

(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)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.