AGM Statement

RNS Number : 7901Y

Headlam Group PLC

20 May 2016

 

20 May 2016

Headlam Group plc

("Headlam" or "the group")

Annual General Meeting Statement

Headlam (LSE: HEAD), Europe's leading floorcoverings distributor, will hold its Annual General Meeting at 10.00 a.m. today at which the group's Chairman, Dick Peters, will make the following statement:

"The group's performance has advanced well in the current financial year with revenue growth of 4.5% over the first four months to 30 April 2016.  In the UK, the overall like-for-like increase in revenue was 4.0% with a strong expansion in residential activity at 6.1%, significantly ahead of the commercial business which marginally declined by 0.4% during the period.

"Revenues from the Continental European businesses collectively improved by 2.2%, measured in constant currency, with all three countries contributing to the positive result and reversing the 3.8% decline registered for the year ended 31 December 2015.

"The group's revenue increase, in combination with gross margin and expenses in-line with trading expectations, has resulted in the operating margin showing further improvement compared with the equivalent period last year.

"Whilst early in the year, and with the busy trading months ahead, the board remains confident of achieving further progress during 2016."

Enquiries:

Headlam Group plc                                                    

Tony Brewer, Group Chief Executive                                              Tel: [phone]

Stephen Wilson, Group Finance Director 

Investec Bank plc (Joint Corporate Broker)	Tel: [phone]
Garry Levin / David Flin / Josh Levy

Arden Partners plc (Joint Corporate Broker)                            Tel: [phone]

Jonathan Keeling / Steve Douglas

Buchanan	Tel: [phone]
Mark Court / Helen Chan

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/ 

 

END

 

 

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