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 2008compared with the corresponding period last year, increased by 4.3% on a like for like basis.


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



Enquiries:

 

Headlam Group plc    

Tony Brewer, Group Chief Executive                         Tel: 01675 433000

Stephen Wilson, Group Finance Director            

This information is provided by RNS
The company news service from the London Stock Exchange
 
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