Headlam ( (GB:HEAD) ) has issued an update.
Headlam Group PLC announced its full-year results for 2024, highlighting significant progress in its transformation plan despite challenging market conditions that impacted profitability. The company maintained its market share, with a 9.7% revenue decline and a £34.3 million underlying loss before tax due to market decline and cost inflation. The transformation plan aims to simplify operations and improve profitability, with upgraded targets for profit improvement and cash inflow. The company has strengthened its balance sheet with a net cash position of £10.9 million and substantial cash proceeds from property disposals. The strategic restructuring is expected to position Headlam for increased market share and long-term success, despite ongoing market weakness.
More about Headlam
Headlam Group PLC is the UK’s leading distributor of floorcoverings, operating for over 30 years. The company collaborates with global suppliers to offer a wide range of products, providing an effective market route to a diverse trade customer base. Headlam serves independent and multiple retailers, contractors, and housebuilders, offering extensive product ranges, expert knowledge, and nationwide next-day delivery. The company operates across the UK and Continental Europe, supported by a robust network and central resources.
YTD Price Performance: -22.54%
Average Trading Volume: 42,743
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £88.27M
For detailed information about HEAD stock, go to TipRanks’ Stock Analysis page.