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Pre-Close Update

18 Jan 2024 07:00

RNS Number : 0680A
Headlam Group PLC
18 January 2024
 

18 January 2024

Headlam Group plc

('Headlam' or the 'Group')

 

Pre-Close Update

Trading in line with expectations

 

Headlam (LSE: HEAD), the leading floorcoverings distributor, today provides a pre-close update in respect of the year ended 31 December 2023 ahead of announcing final results in March 2024.

 

Underlying profit before tax for the year is expected to be in line with market expectations*, subject to audit.

 

The Group's UK revenue for the year was broadly flat versus the prior year, with Continental Europe declining by 7.7%. As explained in our trading update on 12th December 2023, the UK residential market was weak from September, as consumers cut back spending on home improvement projects. The Group's revenue from the commercial sector was more robust, along with revenue from Larger Customers and Trade Counters, which finished the year up 26% and 8.5% respectively, with December being a record month for average daily sales in our Trade Counters business.

 

The Group's full year results are scheduled to be announced on 5th March 2024.

 

* Company-compiled consensus market expectations, on a mean basis, are available on the Company's website at www.headlam.com 

 

 

Enquiries:

 

Headlam Group plc

Tel: 01675 433 000

Chris Payne, Chief Executive

Email: headlamgroup@headlam.com

Adam Phillips, Chief Financial Officer

Panmure Gordon (UK) Limited (Corporate Broker)

Tel: 020 7886 2500

Tom Scrivens / Atholl Tweedie

 

Peel Hunt LLP (Corporate Broker)

 

 

Tel: 020 7418 8900

George Sellar / John Welch

 

 

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