24th May 2019 09:50
LONDON (Alliance News) - Headlam Group PLC on Friday said its revenue grew in the first four months of 2019, driven by a strong performance in the residential sector.
Ahead of its annual general meeting, the distributor of floorcoverings said like-for-like revenue increased by 3.1% in the UK and by 5.8% in Continental Europe in the first four months of the year.
In the UK, both the residential and commercial sectors delivered a positive performance, Headlam said, while in Continental Europe the residential sector was the strong performer.
Overall, like-for-like revenue rose by 3.5% against the "soft" comparatives of the prior year.
"This early stage trading performance is pleasing, with the company maintaining its overall expectations for the full year ahead of the traditionally stronger second half of the year," Headlam said in the statement Friday.
Activity relating to the build of the new regional distribution centre in Ipswich is proceeding in-line with timetable, the company said, and is anticipated to be operational in mid-2020.
Headlam will release its next trading update on July 24, ahead of announcing its interim results on August 28.
The stock was trading 7.1% higher on Friday morning at 489.00 pence a share.
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