Total sales at Howden rose 9.5 per cent to£676.3 million, compared to£617.8 million in 2005. Operating profit, before exceptional items, increased£9.2 million to£132.6 million for the year.
The cost of running Galiform's sourcing and manufacturing business, before exceptional items, was down£9.2 million to£39.6 million.
Group revenue rose£111.2 million to£733 million, reflecting the increased sales of Howden and third-party sales of Supply. Excluding exceptional items, gross profit for the group increased£40 million to£362.5 million. The net result was profit before tax and exceptional items of£57.2 million, compared to£42.5 million in 2005.
Galiform's chief executive Matthew Ingle said: 'Last year was a year of major transformation for the group. With the disposal of MFI Retail, we are now focused on the successful Howdens business, which continues to enjoy a strong position in a rapidly changing market. We have great opportunities to grow Howdens, capitalising on its unique strengths.'
Galiform is presently experiencing a shake-up of its board. Group commercial director Gerard Hughes has been appointed to the board as an executive director. He joined the group in 2000 as company secretary and played a major role in the restructuring and refinancing of the retailer.
Lesley Knox has retired, after serving as a non-executive director since 2001. Michael Wemms, who was appointed as a non-executive director last year, is taking over as chairman of the Remuneration Committee. He has also been appointed senior independent director.
Tony De Nunzio has also retired. He was appointed as a non-executive director in 2000 and has served as deputy chairman, chairman of the Audit Committee and senior independent director. Angus Cockburn, who was appointed as a non-executive director last year, has taken over as chairman of the Audit Committee.
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