Galiform’s revenues pick up as it cuts property debt

BRITISH kitchen supplier Galiform reported a pick up in trading following a weather-hit slow start to the year, and said it had cut its property liabilities by £18m.

The owner of Howden Joinery, which supplies kitchen units to small builders from over 450 depots, said yesterday sales rose 0.5 per cent on a same depot basis in the 16 weeks to 17 April.

That included a previously reported 4.1 per cent fall for the first eight weeks of the period that were affected by severe winter weather.

Galiform, which emerged from the old MFI Furniture business, also said it had reduced property liabilities resulting from the collapse of MFI.

It has agreed with landlords of three properties that it will be released from all obligations in respect of the leases in exchange for a total cash payment of £4.3m.

Galiform said it was seeing some input cost pressures.