Trading Statement

RNS Number : 7326F

Headlam Group PLC

19 January 2010

 



19 January 2010

Trading update

Headlam Group plc, Europe's leading floorcoverings distributor, provides a trading update prior to the release of its results on Friday 19 March 2010 for the year ended 31 December 2009.

Total group revenue for the twelve month period to 31 December 2009 reduced by 3.8% compared with the previous year.

In the UK, like for like revenues decreased by 6.1%. Revenues from our three businesses located in Continental Europe, increased by 8.0% before adjusting for a favourable currency translation amounting to £12.0 million and the full year contribution from Silvester, the Dutch business acquired in 2008.  Underlying like for like performance was down 6.2% on the previous year.

Based on this performance, earnings for the twelve months to 31 December 2009 are likely to be slightly ahead of market expectations.

Outlook

Overall, trading in the UK during the last quarter of 2009 was positive with the like for like performance up 1.0% on the final quarter of 2008. The Continental businesses also achieved an improvement during the same period.

This activity and general trend confirms our view that the market contraction has stabilised, which gives us cause to revise our previous views for 2010 and enter the New Year with a little more optimism.

Enquiries:

Headlam Group plc    

Tony Brewer, Group Chief Executive                          Tel: [phone]

Stephen Wilson, Group Finance Director            

 

END

 

 

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