Further service centres planned as Headlam profits from improved economy
FLOORCOVERINGS firm Headlam has seen an increase in both revenue and profit in the six month period ending June 30.
The Coleshill company reported revenue of £301.6m, a 7.6% increase on 2013’s figure of £280.4m while profit before tax was up by 18.5% to £10.75m (2013: £9m).
Tony Brewer, Headlam’s group chief executive, said: “The particularly positive performance for the first six months, due in part to improved market conditions, is principally as a result of the various business initiatives combined with the efforts of management, sales representatives and all employees.
“The momentum created during the first half as a result of these factors has continued into July and August and is evident in both the commercial and residential sectors.
“Assuming that normal seasonality in the traditionally busy autumn selling period prevails, the group is very well placed to continue this trend for the remainder of 2014.”
The group now operates with 54 businesses from 18 distribution centres and 26 service centres and continues to be structured in the five business sectors of regional multi-product, national multi-product, regional commercial, residential specialist and commercial specialist.
The firm said the increase in revenue reflected a slightly stronger performance from its residential business, where the growth rate was greater than its commercial business, resulting in the overall product mix moving marginally to 69% residential and 31% commercial.
Headlam has recently established service centres in Stoke and Norwich and a further opening in Hayes, west London is imminent.
This will result in 43 collection points in the UK to assist in the servicing of its customers and there are plans to open additional service centres, in strategic geographical locations.
