Headlam (GB:HEAD) has released an update.
Headlam Group PLC, the UK’s top floor coverings distributor, reports a trading performance consistent with its revised expectations, with a notable 11.8% year-on-year revenue decline due to decreased consumer spending in home improvements. Despite the downturn, strategic growth initiatives are paying off, particularly with larger customers and trade counters, and the company is progressing with a strategy acceleration aimed at simplification and enhanced customer service. Headlam maintains a solid financial position with substantial cash reserves and facilities, and anticipates a trading improvement in the latter half of the year, with a full recovery expected in 2025.
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