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I expect HEAD to power up to 400p now that a semblance of normality is on the horizon. I think the deferred dividend will be paid later in the year which will bring in more investors.
Looks cheap to me with the 25p dividend cover but wary of anticipated slowdown which may worsen as BREXIT looms later this year. One to watch.
Beware, two of Headlams long serving directors are setting up a business which appears to be in direct competion with Headlam.I ask the question why? .This has happened many times in the flooring trade.Likewise could be a share to watch,see this months Contract Flooring Journal.
I bailed on the trading update due to the LfL comparisons and Carpetrights woes, which turned out to be a good move. I still like the company but I'm wary of the move towards big projects such as those targeted by the Domas acquisition. A nice pullback and today's bounce may suggest a bottom around 410p. One to watch - looking for the turn in LfL. Londoner7
Headlam Group results showed a drastic slowdown in the UK with LFL growth of 0.5% vs. Europe�s 4.2%. This is a sharp reversal in UK growth of 4.7%. But management is optimistic about the future and says earnings are in-line with expectations. I think the recent acquisition in Domus will help plug any earnings shortfall in 2018. Overall, I think Headlam is a progressive dividend payer and a much better business to hold in your investment portfolio than Carpetright, Topps Tiles and United Carpet Group. The phrase �Europe biggest floorcovering distributor� tells you it is a simple business to understand. For further details on Headlam, click http://bit.ly/2mLZyHa
It's an illiquid stock in the quiet periods between updates but I've found that buying modest lots on limit prices gets around the large spread. I now have a decent stake. Time will tell if my patience pays off. Londoner7
There goes our 5 days constant riser :o/
...and I got some today ;)
IS GREAT (when you can get it)
Seems to be strongly northbound, so thats good, but after an hour of searching the results and statements I find the CEo is slightly positive going into the final weeks of 2013 but that aside, can not find any reason for the up movement of the SP. Any other ideas why anyone?
Hey,come guys,dont go to bed,ive another six hours to go.lol...
NIGHT BUD
You givin lego HEAD..?......
NIGHT TAKE CARE
HEAD
STRONG
LES HORSEMAN
£.................
ABOVE.....................
Floorcoverings group Headlam warned that first half earnings will be 10 per cent lower than last year, as difficult markets persisted, and believes it is unlikely it will meet full year company expectations. "Floorcovering markets both in the UK and on the Continent have remained difficult and, in our view, have shown continued signs of contraction during the first six months of 2013," the group explained in a company statement. Headlam reiterated that revenue during the first four months of the year was down on 2012. While the early indications for May reflected some of the recovery evident in March and April, activity levels dropped as the month continued leaving revenue marginally up on the previous year by the time the month concluded, it added. In the continued absence of any real improvement in its floorcovering markets, an element of uncertainty around the group's trading performance during the second half is likely to prevail, it cautioned, notwithstanding that this is traditionally the group's busiest period of the year. "As a result, the board now believes it is unlikely that the company will meet market expectations for the financial year as a whole. "However, despite this outcome, the board remains confident subject to a reasonable second half trading performance that the dividend for the current financial year will be consistent with 2012."
Tony Brewer, Headlam's Group Chief Executive, said: "A consistent theme highlighted in each of our previous trading reports this year has been the challenging and competitive nature of the markets we serve. Market weakness has been a constant issue since the second half of 2008 and is the primary reason behind the increasingly competitive environment in the UK. However, notwithstanding these continuing market pressures, provided planned revenue is achieved during the remainder of November and December, the board is confident that the group will deliver its internal performance target for 2012."
Interim Management Statement Headlam Group plc ("Headlam"), Europe's leading floorcoverings distributor, announces its Interim Management Statement for the ten month period from 1 January 2012 to 31 October 2012. The group's revenue increased by 3.8% over the ten months compared with the same period in the previous year. In the UK, revenue increased by 6.6% with the underlying like for like performance improving by 5.6%. Revenues from our Continental European businesses reduced by 8.5% during the period which, when measured in constant currency, equated to 2.4%. The erosion in UK gross margin percentage evident during the first six months has continued during the second half with the full year likely to be consistent with the position reported at the half year. On the Continent, the performances across the three countries have continued as previously reported with the markets in each of the territories remaining difficult. However, despite the trading conditions, gross margin achievement has been resilient which, in part, continues to compensate for the loss of revenue. There has been no significant change in the group's financial position compared with the position disclosed at 30 June 2012.
Headlam, a Europe wide floor coverings distributor, has bought up Welsh outfit Flooring Accessories. Flooring Accessories, based in Cardiff, is a distributor of residential and commercial floor covering, principally in south Wales. Revenue for the year ended July 31st was £2,180,000. Headlam will pay £576,400 up front, with a further £50,000 payable following the production of accounts to verify minimum net assets of £540,000. Flooring Accessories will continue to trade from its location in Cardiff and be supported by the group's distribution network.
Floor coverings distributor Headlam Group has reported a rise in revenue, operating profit and pre-tax profit for the full year ended December 31st. Revenue rose 6.4%, from £535.7m to £569.8m, while operating profit gained £2m to £28m. Pre-tax profit increased from £25m to £27.6m. Earnings per share were up from 21.5p to 24.6p. Tony Brewer, Headlam's Group Chief Executive, said: "the revenue result for 2011 is the highest ever recorded by the group and represents a very satisfactory achievement given the current trading environment. "The first ten weeks of 2012 have continued a positive trend with all five business sectors and each product category in the UK continuing to produce increases in revenue against the corresponding period of last year. "Markets remain challenging and somewhat unpredictable due to the general economic outlook combined with uncertainty over both raw material prices and currency exchange. However through the group's strategy and structure combined with extensive product and marketing initiatives, we are confident that our individual businesses can collectively outperform the market."