Galiform upbeat after profits rise

The owner of building trade supplier Howdens took another step from its MFI past by revealing a 39.5% jump in annual pre-tax profits today.

Galiform shed the MFI name after selling the ailing retail business to private equity firm Merchant Equity Partners for £1 in October 2006.

It is now focused on its Howdens network of 436 depots, with an ambition to expand the supplier of kitchens and joinery products to 600 sites.