Interim Management Statement

RNS Number : 4808U

Headlam Group PLC

15 May 2008

 



15 May 2008

Interim Management Statement 

Headlam Group plc ('Headlam'), Europe's leading floorcoverings distributor, announces its Interim Management Statement for the period from 1 January to date.

Revenues for the three-month period to 31 March 2008

	2008 £000	2007 £000	Change
UK	111,632	105,726	+5.6%
Continental Europe	22,452	19,229	+16.8%
Group	134,084	124,954	+7.3%

The UK performance benefited from Easter falling in March this year, an event that traditionally has a favourable impact on revenue.  During the first quarter, each of our five business sectors and eight product categories in the UK showed positive improvement.

Currency movements of 15.3% significantly influenced the Continental European results with underlying like for like revenues increasing by 1.5%.

Gross margin for the three-month period to 31 March 2008

Our UK commercial business has maintained the growth trend established during 2007, with a like for like increase in revenue of 10.3% during the first quarter. The like for like increase in UK residential revenue amounted to 4.2%.

Volumes sold in our residential cut length business were consistent with last year whilst the number of rolls sold continued to increase.

Notwithstanding this change in product mix, the group's gross margin during the first quarter has improved compared with the same period in 2007.

  Outlook

UK revenues for the period 1 January 2008 to 14 May 2008, compared with the corresponding period last year, increased by 4.3% on a like for like basis.

Given this favourable start to 2008, we remain confident of achieving another year of growth.

Enquiries:

Headlam Group plc    

Tony Brewer, Group Chief Executive                         Tel: [phone]

Stephen Wilson, Group Finance Director            

 

END

 

 

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