Solid maiden update after MFI sale
Galiform, the company formerly known as MFI Group, has reported solid trading at its Howden Joinery business in the first trading update since MFI's retail operations were sold for£1 last month.

Total sales at Howden were up 8.6 per cent in the 44 weeks to October 28, with comparable sales up 5.2 per cent. Since the end of the first half, sales are up 11.7 per cent, 8 per cent like for like.

Howdens is on an aggressive expansion drive and expects to have opened 40 depots by the end of the year.

Demand from Howdens and MFI Retail for product from Galiform's supply arm has remained consistent and the performance of this division is expected to improve with the closure of two factories and a move to more external sourcing.

The company has also appointed former Tesco director Michael Wemms as a non-executive director. Wemms stepped down as chairman of House of Fraser after its takeover by Baugur earlier this month. He will replace Lesley Knox on Galiform's board.

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