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15 May 2008 07:00
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15Β MayΒ 2008
Interim Management StatementΒ
Β
Headlam Group plc ("Headlam"),Β Europe's leading floorcoverings distributor, announces itsΒ Interim Management Statement for the period from 1 January to date.
Revenues for the three-month period toΒ 31 March 2008
|
2008 Β£000 |
2007 Β£000 |
Change |
|
|
Β |
|||
|
UK |
111,632 |
105,726 |
+5.6% |
|
ContinentalΒ Europe |
22,452 |
19,229 |
+16.8% |
|
Group |
134,084 |
124,954 |
+7.3% |
TheΒ UKΒ performance benefited from Easter falling in March this year,Β an event thatΒ traditionally has a favourable impact on revenue. During the first quarter, each of our five business sectors and eight product categories in theΒ UKΒ showed positive improvement.
Currency movementsΒ of 15.3%Β significantlyΒ influencedΒ the Continental European resultsΒ with underlying like for like revenues increasing by 1.5%.
Gross margin for theΒ three-monthΒ period toΒ 31 March 2008
OurΒ UKΒ commercial business has maintained the growth trend established during 2007, with a like for like increase in revenue of 10.3% during the first quarter. The like for like increase inΒ UKΒ residential revenue amounted to 4.2%.
Volumes sold in ourΒ residential cut length business wereΒ consistent with last yearΒ whilst the number of rollsΒ sold continued to increase.
Notwithstanding this change in product mix, the group's gross margin during the first quarter has improved compared with the same period in 2007.
Β Β Outlook
UKΒ revenues for the periodΒ 1 JanuaryΒ 2008Β toΒ 14 May 2008,Β compared with the corresponding period last year,Β increased byΒ 4.3%Β on a like for like basis.
Given thisΒ favourableΒ start to 2008,Β we remain confident of achieving another yearΒ of growth.
Enquiries:
Β
Headlam Group plc
Tony Brewer,Β GroupΒ Chief ExecutiveΒ Tel: 01675 433000
Stephen Wilson,Β GroupΒ Finance Director
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