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Headlam Group plc provided a pre-close update on 18 January 2024 for the year ended 31 December 2023. The Group expects underlying profit before tax to be in line with market expectations, with UK revenue broadly flat and Continental Europe revenue declining by 7.7%. Revenue from Larger Customers increased by 26% and from Trade Counters by 8.5%; full year results are scheduled for 5 March 2024.
| Date | 18 Jan 2024 |
| Time | 07:00:05 |
| Category | Trading updates |
| ID | 0680A |
18 January 2024
Headlam Group plc
('Headlam' or the 'Group')
Pre-Close Update
Trading in line with expectations
Headlam (LSE: HEAD), the leading floorcoverings distributor, today provides a pre-close update in respect of the year ended 31 December 2023 ahead of announcing final results in March 2024.
Underlying profit before tax for the year is expected to be in line with market expectations*, subject to audit.
The Group's UK revenue for the year was broadly flat versus the prior year, with Continental Europe declining by 7.7%. As explained in our trading update on 12th December 2023, the UK residential market was weak from September, as consumers cut back spending on home improvement projects. The Group's revenue from the commercial sector was more robust, along with revenue from Larger Customers and Trade Counters, which finished the year up 26% and 8.5% respectively, with December being a record month for average daily sales in our Trade Counters business.
The Group's full year results are scheduled to be announced on 5th March 2024.
* Company-compiled consensus market expectations, on a mean basis, are available on the Company's website at www.headlam.com
Enquiries:
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Headlam Group plc |
Tel: 01675 433 000 |
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Chris Payne, Chief Executive |
Email: [email protected] |
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Adam Phillips, Chief Financial Officer |
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Panmure Gordon (UK) Limited (Corporate Broker) |
Tel: 020 7886 2500 |
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Tom Scrivens / Atholl Tweedie
Peel Hunt LLP (Corporate Broker) |
Tel: 020 7418 8900 |
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George Sellar / John Welch |
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