Friday 4 October 2002
07.00am
MFI Furniture Group Plc
Howdens Joinery Seminar
MFI Furniture Group Plc will be holding a seminar for analysts and investors on
Howdens Joinery today.
Howdens is the Group's trade business, selling kitchens and joinery related
products to independent building contractors from depots across the UK. Howdens
was established in 1995, and reported sales of £225m and operating profit of £
24.5m in 2001. The Group currently has 254 Howdens depots in the UK, and has
identified an opportunity for 380 UK depots by 2005. It will also report that
early sales at its pilot of 12 depots in the US are in line with its experience
of start up in the UK.
At the interim results on 25 July the Group said that it did not expect
consumer expenditure growth rates to continue at the levels then being seen,
and that it was comfortable with market expectations for the outcome for the
year. The Group has continued to perform in line with these expectations since
then. This meeting will focus on Howdens and the Group's regular autumn trading
statement will be made on 13 November 2002.
Today's presentation will be available from 11.00am at www.mfigroup.co.uk.
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Enquiries:
Charlotte Elston Brunswick 020 7404 5959
Katya Reynier
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