Headlam Group PLC Half Year Trading Update (8642D)
12 July 2016 - 4:00PM
UK Regulatory
TIDMHEAD
RNS Number : 8642D
Headlam Group PLC
12 July 2016
12 July 2016
Headlam Group plc
("Headlam" or "the group")
Half Year Trading Update
Headlam (LSE: HEAD), Europe's leading floorcoverings
distributor, announces its pre-close trading update for the six
months ended 30 June 2016.
The group continues to trade in line with board expectations
with revenue for the six month period increasing by 4.8% compared
with the same period last year.
In the UK, like for like revenues in the period increased by
3.4% compared with the first six months last year, with residential
increasing by 4.7% and commercial up by 0.4%.
Combined revenues from the Continental European businesses,
measured in constant currency, increased by 2.8%. On translation to
sterling, combined revenues increased by 8.9%.
The recent UK referendum has resulted in the weakening of
sterling against other key currencies. One effect of the prevailing
sterling euro exchange rate is to increase the cost to the group of
residential floorcoverings, which are imported predominantly from
Belgium and the Netherlands, by on average 6.0%. As a consequence,
selling price increases of a similar amount will be implemented by
the group for these products over the course of the next month.
It is too early to forecast any other effects that the
referendum result may have on the group's business but the board
will continue to monitor the situation carefully and manage the
group accordingly.
Headlam intends to issue its interim results for the six months
ended 30 June 2016 on Wednesday 24 August 2016.
Enquiries:
Headlam Group plc
Tony Brewer, Group Chief Executive Tel: +44 (0) 1675 433000
Stephen Wilson, Group Finance Director
Investec Bank plc (Joint Corporate Tel: +44 (0)
Broker) 20 7597 4000
Garry Levin / David Flin / Josh
Levy
Arden Partners plc (Joint Corporate Broker) Tel: +44 (0) 121 423 8900
Jonathan Keeling / Steve Douglas
Buchanan Tel: +44 (0)
20 7466 5000
Mark Court / Sophie Cowles /
Catriona Flint
Notes to Editors:
Headlam Group plc
Headlam markets, supplies and distributes an extensive range of
floorcovering products. The group's activities and facilities are
located throughout the UK, France, Switzerland and the
Netherlands.
More information is available at http://www.headlam.com/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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