Strong rebound for Birmingham floor coverings distributor

Headlam Group, the Birmingham floorcoverings distributor has made a strong rebound following the pandemic.

In its full results, total revenue stands at £667.2m, a 15.4% increase from 2020 which was impacted by closures of operations during the first half of the year (2020: £578.1m).

In addition, after suffering a loss of £12.2m in 2020, statutory operating profit was up to £29.1m.

The company says it was able to mitigate industry-wide issues including supply chain disruption, with its inventory position maintained and levels of availability preserved.

It also had disposed of Belcolor, its Swiss operations, which allowed it to focus on other operations and look at other growth opportunities.

Headlam has proposed a final ordinary dividend of 8.6 pence, giving a total ordinary dividend payout in respect of 2021 of 16.4 pence.

Philip Lawrence, Headlam’s Non-Executive Chairman, said: “2021 was a very positive year for the Company on a number of fronts.

“The Company’s strategy is meaningful organic revenue growth from an efficient and modernised operating base, with its successful delivery being demonstrated and benefits becoming increasingly evident.

“The Company enters 2022 a far more focused, capable and modern business, with greater opportunity and competitive advantage to support customers and grow financial performance.”