19th Nov 2013 14:17
LONDON (Alliance News) - Headlam Group PLC Tuesday said its revenues increased in the first nine months of the year but its financial position remains largely the same as at June 30.
The European floorcoverings distributor said its revenue increased by 2.0% during the nine months ended September 30 in large part due to a GBP6.8 million contribution from acquisitions during the period.
The company said that in the UK, its revenue increased 2.5% but revenues from continental Europe decreased 0.3% during the period.
Headlam also said its gross margins improved in the UK but also deteriorated slightly on the continent in the face of continued market pressures.
The company also said the extension of its Coleshill distribution hub is moving forward in line with its construction timetable and will be fully operational during January 2014.
Headlam shares were up 3.1% to 410.00 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2013 Alliance News Limited. All Rights Reserved.
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