Revenues spikes at floor specialists Headlam

COLESHILL-based floor covering firm Headlam Group has seen a healthy spike in revenues and profits during the first of the year.

In its interim results for the half-year ended June 30, 2011, the plc reported today a 5.5% rise in revenue from £254.8m to £269m while operating profit rose from £9.17m to £10.4m, a climb of 13%.

Profit before tax climbed 19% from £8.4m to £9.9m and basic earnings per share rose from 7.3p to 8.7p.

The statement said that indicators suggested UK performance was ahead of the market. Headlam operates the brands Your Floors and Fun On The Floor.

Chief executive Tony Brewer said: “The individual autonomous businesses have succeeded in producing a strong performance in the first half, in what are generally considered to be challenging market conditions.

“This has been achieved through a constant programme of product development, combined with sales and marketing activities, with support from a comprehensive logistics service.

“Due to the benefit of our supplier relationships and continued positive trading from our customers, revenue achievement since the period end has given a good start to the second half.

“Whilst market conditions remain challenging, we are currently confident of achieving our revised objectives for the year.”