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Interim Results

Headlam pre-tax profits up 11%

21 August 2017 07:12

Pre-tax profits at Headlam - Europe's largest distributor of floorcoverings - rose by 11.0% to £16.8m in the six months to the end of June.

Total revenue increased by 4.0% to £341.9m with UK like-for-like revenue growth of 2.1% (H1 2016: 3.4%) and Continental Europe like-for-like revenue growth of 3.0% (H1 2016: 2.8%).

The group also saw gross margin improvement of 103 basis points to 31.06% reflecting efficiency initiatives and more effective organisation and streamlining of the company's businesses' practices.

Thew group has declared an interim dividend of 7.55p per share - up 12.7%.

Chief executive Steve Wilson said: "The first half of 2017 represented another period of both financial and operational growth, and it is particularly pleasing that that our concerted efforts on more effective organisation and efficiency initiatives have resulted in enhanced profitability for the period."

Story provided by StockMarketWire.com

Related Company: HEAD

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