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Trading statements

Headlam revenues rise

18 July 2017 07:20

Headlam Group's total revenue for the six months ended 30 June increased by 4.0% to £341.9 million compared with the corresponding period in the prior year.

On a constant currency basis, total revenue increased by 2.6% to £337.2 million with both the UK and Continental Europe delivering growth, and total revenue for each of the residential and commercial sectors also showing a positive performance.

The UK accounted for 85.9% of total revenue (87.0% in constant currency) with like-for-like revenue growth of 2.1% reflecting a positive performance from both the residential and commercial sectors, up 2.8% and 0.5% respectively.

Continental Europe, which accounted for 14.1% of total revenue (13.0% in constant currency), showed like-for-like revenue growth of 3.0%.

The group said the residential sector delivered strong growth of 6.7% whilst the commercial sector declined by 0.5% as the positive performance from both the Dutch and French businesses was offset by the Swiss business.

Gross margin across the company improved by 103 basis points to 31.06% compared with the same period in the prior year predominately as a consequence of the focus on more effective organisation and streamlining of the company's businesses' practices.

The company said it continued to trade in-line with the board's expectations for the full year.

Story provided by StockMarketWire.com

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