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Trading statements

Headlam revenues rise

20 May 2016 07:25

Floorcoverings distributor Headlam's performance has advanced well in the current financial year with revenue growth of 4.5% in the first four months to 30 April, shareholders at today's annual general meeting will be told.

Chairman Dick Peters will say: "In the UK, the overall like-for-like increase in revenue was 4.0% with a strong expansion in residential activity at 6.1%, significantly ahead of the commercial business which marginally declined by 0.4% during the period.

"Revenues from the Continental European businesses collectively improved by 2.2%, measured in constant currency, with all three countries contributing to the positive result and reversing the 3.8% decline registered for the year ended 31 December 2015.

"The group's revenue increase, in combination with gross margin and expenses in-line with trading expectations, has resulted in the operating margin showing further improvement compared with the equivalent period last year.

"Whilst early in the year, and with the busy trading months ahead, the board remains confident of achieving further progress during 2016."

Story provided by StockMarketWire.com

Related Company: HEAD

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