Headlam lays down a positive set of results

COLESHILL-based floorcoverings group Headlam has seen an increase in both revenue and profit.

Its interim results for the six month period ended June 30, reveal revenue is up 4% at £313.5m (H1 2014: £301.6m) and operating profit is up 14.9% at £13m (H1 2014: £11.3m).

The firm has net funds of £26m compared to £11.7m at the end of June 2014.

Headlam revealed that it made further gains in the UK market with like-for-like revenues increasing by 5.4%, exceeding the forecast market growth of 3.4%.

But Continental European markets, representing 12.4% of half year group revenues, remain challenging

The number of UK businesses owned by the firm increased to 56 in the period in question with the acquisition of Matty’s Wholesale Carpets.
 
And a showroom in London’s Clerkenwell district was opened to assist Headlam Corporate to target the commercial flooring market.
 
Tony Brewer, Headlam’s group chief executive, said: “The first half results underline the growing momentum in the UK market and particularly in our business. 

“The group’s UK residential business has performed well and the slightly stronger like-for-like growth across our commercial activities points towards improving confidence in the wider business community.
 
“The positive trading outcome for the first half has continued during the first eight weeks of the second half. Subject to the important final quarter of the year, the group expects to announce results for the full year to 31 December 2015 slightly ahead of the board’s internal expectations.”