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IN BRIEF: Headlam shares fall as margins take hit from lower volumes

25th May 2023 11:25

Headlam Group PLC - Birmingham, England-based floor coverings distributor - Says revenue for the first four months of 2023 is 3.4% above the same period in 2022. However, volumes in the residential sector market are down due to the current economic environment and, in particular, weak consumer confidence. Headlam says lower residential volumes, coupled with the moderation in price increases, have reduced gross margin in the first four months of the year. It adds that it is deploying "several mitigating actions" to fight back. For 2022, Headlam reported pretax profit of GBP41.8 million on revenue of GBP663.6 million.

Current stock price: 239.99 pence each, down 8.8% on Thursday morning in London

12-month change: down 28%

By Xindi Wei, Alliance News reporter

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