Headlam Group PLC AGM Trading Update (1628G)
May 25 2017 - 2:00AM
UK Regulatory
TIDMHEAD
RNS Number : 1628G
Headlam Group PLC
25 May 2017
25 May 2017
Headlam Group plc
('Headlam' or the 'Company')
AGM Trading Update
Headlam Group plc (LSE: HEAD), Europe's largest distributor of
floorcoverings, is pleased to provide a trading update ahead of its
Annual General Meeting ('AGM') being held later today.
Total revenue for the first four months of the year to 30 April
2017 was GBP221.2 million, up 2.2% compared with the same period in
the prior year, with growth in both the UK and Continental
Europe.
The UK accounted for 86.0% of total revenue in the four months
(corresponding period 2016: 87.3%), and UK like-for-like revenue*
growth was 1.9%, an uplift on the strong comparable of 4.0% growth
in the same period in the prior year. Both the residential and
commercial sectors showed a positive performance, up 2.0% and 1.6%
respectively.
Continental Europe, which accounted for 14.0% of total revenue
in the four months, showed like-for-like revenue* growth of 3.0%.
Very strong residential sector growth of 9.3% offset a decline of
3.5% within the commercial sector, with the performance of the
Swiss business being the primary reason for the commercial sector
decline.
In April 2017, the Company acquired the assets of McMillan
Flooring Distributors Limited based in Scotland bringing the
Company's total number of businesses to 61. The acquisition, with
locations in Edinburgh and Glasgow, establishes a presence for
Headlam in Edinburgh whilst allowing the expansion and linking of
operations in Glasgow.
May 2017 is performing to expectations, and the Company
continues to trade in-line with the Board's expectations for the
full year.
* Like-for-like revenue is calculated based on constant currency
from activities and businesses that made a full contribution in
both the 2017 and 2016 periods and is adjusted for variances in
working days
Enquiries:
Headlam Group plc
Steve Wilson, Chief Executive Tel: 01675 433 000
Catherine Miles, Director Tel: 01675 433 006
of Communications
Investec Bank plc (Joint Tel: 020 7597 5970
Corporate Broker)
Garry Levin / David Flin
/ Alex Wright
Arden Partners plc (Joint Tel: 0121 423 8900 / 020
Corporate Broker) 7614 5900
Jonathan Keeling / Steve
Douglas
Buchanan (Financial PR and Tel: 020 7466 5000
IR)
Mark Court / Sophie Cowles
/ Catriona Flint
Notes for Editors:
Headlam is Europe's largest distributor of floorcoverings having
grown significantly via organic growth and acquisition since
1992.
Headlam provides the distribution link between suppliers and
customers of floorcoverings, providing suppliers with the greatest
coverage and customer penetration for their products across the UK
and Continental Europe, and customers with the broadest range of
products supported by next day delivery.
The Company is engaged with suppliers across 16 countries whose
products cover a significant proportion of the floorcoverings
market (including carpet, residential vinyl, wood, laminate, luxury
vinyl tile, underlay and commercial flooring). The Company's
customers are within the residential and commercial sectors and
comprise principally independent retailers and flooring
contractors.
The Company currently comprises 61 wholly-owned businesses in
the UK and Continental Europe each operating under their own trade
brand and utilising their individual sales team which achieves a
greater reach into the customer base.
Each of the businesses is supported by the Company's centralised
and financial resources and extensive distribution network across
the UK and Continental Europe that comprises four distribution
hubs, 18 distribution centres, 55 service centres and a corporate
showroom.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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