REG - Headlam Group PLC - Trading Update

HeadlamAnnouncement

22/01/2025 07:00

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RNS Number : 1846U  Headlam Group PLC  22 January 2025

22 January 2025

Headlam Group plc

('Headlam' or the 'Group')

 

Pre-Close Trading Update

 

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

 

Further to our trading update published on 5(th) December 2024, the Group's
revenue for the full year declined 9.7% to £593 million. Good growth in
revenue from the strategic growth areas of Larger Customers and Trade Counters
was offset by the impact of the weak market conditions on the Regional
Distribution business. Group revenue in H2 2024 declined by 7.4% compared to
an 11.8% decline in H1 2024. The Group expects the underlying loss before tax
for the year to be circa £34 million, subject to audit.

 

On 20(th) December 2024, the Group announced a significant milestone against
its transformation plan, disposing of property for cash proceeds of £54m, a
14% premium to its last market valuation. The Group ended the year with net
cash(1) of £11 million and a property portfolio valued(2) at £95 million.

 

The Group's full year results, as well as an update on the progress made
during the year on the transformation plan, will be announced in March 2025.

 

 

Footnotes

 

1.   On a pre-IFRS 16 basis, i.e. before capitalised leases

2.   As at the market valuation undertaken in January 2023

 

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 Liberum Limited (Corporate Broker)   Tel: 020 3100 2000
 Tom Scrivens / Atholl Tweedie

 Peel Hunt LLP (Corporate Broker)             Tel: 020 7418 8900
 George Sellar / Finn Nugent

 Houston (Financial PR)                          Tel: 020 4529 0549
 Kate Hoare / Kelsey Traynor / Polly Clarke

 

Notes to Editors

 

Operating for over 30 years, Headlam is the UK's leading floorcoverings
distributor. The Group works with suppliers across the globe manufacturing the
broadest range of products, and gives them a highly effective route to market,
selling their products into the large and diverse trade customer base. The
Group has an extensive customer base spanning independent and multiple
retailers, small and large contractors, and housebuilders. It provides its
customers with a market leading service through the largest product range,
in-depth knowledge, ecommerce and marketing support, and nationwide next day
delivery service. To maximise customer reach and sales opportunity, Headlam
operates businesses, trade brands and product brands across the UK and
Continental Europe (France and the Netherlands), which are supported by the
group's network, central resources and processes.

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