Register
Login:
Share:
Email Facebook Twitter


London South East Natural Resources Webcast


Headlam Regulatory News (HEAD)



Regulatory News for Headlam (HEAD)


Share Price: 458.00Bid: 459.00Ask: 460.50Change: 0.00 (0.00%)No Movement on Headlam Group
Spread: 1.50Spread as %: 0.33%Open: 456.50High: 463.50Low: 455.50Yesterday’s Close: 458.00





Pre-close Trading Update

Thu, 19th Jan 2017 07:00

RNS Number : 5439U
Headlam Group PLC
19 January 2017
 

  19 January 2017

Headlam Group plc

("Headlam" or "the Company")

 

Pre-close Trading Update

 

Headlam Group plc (LSE: HEAD), Europe's largest distributor of floorcoverings, is pleased to provide a pre-close trading update ahead of announcing its preliminary results for the year ended 31 December 2016 on 7 March 2017.

 

Following the trading update on 1 December 2016 when the Company announced that it expected to report preliminary results before non-recurring items* ahead of current consensus market expectations, the Company continued to experience better than anticipated trading in the latter part of the important fourth quarter. As such, the Company now expects to report preliminary results before non-recurring items* ahead of the revised consensus market expectations**.

 

Total revenue for the year was up 6.0% against 2015, approximately 4.5% in constant currency, with a strong performance from both the UK and Continental Europe. The UK continued to account for approximately 88% of total revenue and UK like-for-like growth was 4.7%, a significant outperformance of the 3.8% growth in the market***. Continental Europe, which accounted for approximately 12% of total revenue, grew by 3.6% in constant currency strongly reversing the decline of 3.8% in 2015.   

 

The Company benefited from the price increases it implemented from August 2016 to mitigate cost inflation due to a weakening of sterling, and the increased revenue led to an improved operating performance as a result of operational gearing.

 

 Enquiries:

 

Headlam Group plc


Steve Wilson, Chief Executive Officer

Catherine Miles, Director of Communications

Tel: 01675 433 000

Tel: 01675 433 006



Investec Bank plc (Joint Corporate Broker) 

Tel: 020 7597 4000

Garry Levin / David Flin / Alex Wright




Arden Partners plc (Joint Corporate Broker)

Tel: 0121 423 8900/020 7614 5900

Jonathan Keeling / Steve Douglas




Buchanan (Financial PR and IR)

Tel: 020 7466 5000

Mark Court / Sophie Cowles / Catriona Flint

 



\* The non-recurring items predominately relate to personnel changes arising during the second half of the year

 

**Company-compiled consensus market expectations for 2016 profit before tax (normalised) of £37.6 million (average)

 

***Source: AMA Research Ltd - Floorcoverings Market Report UK 2016-2020 Analysis

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

Notes for Editors:

 

Headlam Group plc ('Headlam' or 'the Company') is Europe's largest distributor of floorcoverings having grown significantly via acquisition and organic growth since 1992. 

 

The Company currently comprises over 60 wholly-owned floorcoverings distribution businesses in the UK and Continental Europe each operating under their own trade brand.

 

Each business is supported by the Company's centralised and financial resources and extensive distribution network, and the Company's scale allows the businesses to benefit from greater access to suppliers of floorcovering products.

 

An extensive range of floorcovering products (including carpet, vinyl, wood and laminate) is sourced from suppliers across 12 countries, who gain considerable access into the European market. The Company's distribution network (comprising distribution hubs, distribution centres and service centres) allows customers to benefit from next day delivery as well as an extensive product range. 

 

The Company's customers are within the residential and commercial sectors and comprise principally independent retailers and flooring contractors with whom the Company's businesses typically have long standing relationships. A greater reach is achieved into the customer base by each business operating under their own trade brand and utilising their individual sales teams.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTUWUBRBKAAAAR


Related Shares:
Headlam Group (HEAD)




DateSourceHeadlineCategory
24-May-18 11:08RNSResult of AGMResults and Trading Reports
24-May-18 07:00RNSAGM Trading UpdateResults and Trading Reports
09-May-18 11:56RNSExercise of Share Options / Treasury StockCompany Announcement - General
03-May-18 14:50RNSEmployee SAYE scheme & Director/PDMR shareholdingDirectors' Dealings
10-Apr-18 14:15RNSDeferred Bonus Plan awardsDirectors' Dealings
10-Apr-18 14:15RNSPerformance Share Plan awardsDirectors' Dealings
23-Mar-18 12:36RNSAnnual Report and Notice of AGMResults and Trading Reports
08-Mar-18 14:40RNSNOTIFICATION OF MAJOR HOLDINGSHolding(s) in Company
06-Mar-18 07:00RNSFinal ResultsResults and Trading Reports
28-Feb-18 15:19RNSNotification of Major HoldingsHolding(s) in Company
15-Feb-18 15:35RNSNotification of Major HoldingsHolding(s) in Company
15-Feb-18 15:29RNSNotification of Major HoldingsHolding(s) in Company
07-Feb-18 07:00RNSNotification of Final ResultsAdvance Notice of Results
31-Jan-18 08:24RNSTotal Voting RightsHolding(s) in Company
29-Jan-18 13:16RNSNotification of Major HoldingsHolding(s) in Company
18-Jan-18 07:00RNSBoard ChangesExecutive Changes
18-Jan-18 07:00RNSPre-close Trading UpdateResults and Trading Reports
16-Jan-18 16:29RNSExercise of share optionsCompany Announcement - General
12-Jan-18 12:54RNSCircular re. Electronic CommunicationsCompany Announcement - General
11-Jan-18 15:23RNSTR-1: Notification of Major HoldingsHolding(s) in Company
03-Jan-18 14:35RNSTR-1: Notification of Major HoldingsHolding(s) in Company
29-Dec-17 07:00RNSTotal Voting RightsHolding(s) in Company
07-Dec-17 07:00RNSAcquisition of Domus GroupMergers, Acquisitions and Disposals
07-Dec-17 07:00RNSTrading UpdateResults and Trading Reports
06-Dec-17 11:58RNSTransaction in Own SharesTransaction in Own Shares
31-Oct-17 07:00RNSTotal Voting RightsHolding(s) in Company
27-Oct-17 08:35RNSGrant of award under 2017 share planCompany Announcement - General
11-Oct-17 13:00RNSTreasury Stock/Issued Share Capital - ReplacementTransaction in Own Shares
10-Oct-17 17:01RNSTreasury Stock/Issued Share CapitalTransaction in Own Shares
29-Sep-17 11:15RNSTotal Voting RightsHolding(s) in Company


Share Price, Share Chat, Stock Market news at lse.co.uk
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at lse.co.uk






Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.