STOCKS NEWS EUROPE-Galiform jumps as profit guidance raised

Shares in Galiform (GFRM.L) rise up to 12.5 percent to a 12-month high of 91.8 pence after the British kitchen supplier says it is unlikely pretax profit for 2009 will be less than the top end of the current range of market expectations -- 50 million pounds ($82.88 million) according to Thomson Reuters I/B/E/S.

The firm, which trades as Howden Joinery, also said the decline in sales had improved through its second-half and sales were up in the key October trading period.

In light of the better trading Howden Joinery plans to resume its UK depot opening programme.

Analysts at Numis Securities upgraded their 2009 profit forecast to 56 million pounds from 40 million pounds and their forecast for 2010 to 63 million pounds from 47 million pounds.

"We continue to argue that Galiform has the best recovery profile within the merchanting sub-sector," they say in a note.

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Reuters messaging rm://james.davey.reuters.com@reuters.net ($1=.6033 Pound) ($1=.6033 Pound)