REG - Headlam Group PLC - Pre-Close Update

HeadlamAnnouncement

18/01/2024 07:00

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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 12(th) 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 5(th) March
2024.

 

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

 

 

Enquiries:

 

 Headlam Group plc                                Tel: 01675 433 000
 Chris Payne, Chief Executive                     Email: headlamgroup@headlam.com (mailto: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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