15th May 2008 07:00
15 May 2008
Interim Management Statement
Headlam Group plc ("Headlam"), Europe's leading floorcoverings distributor, announces its Interim Management Statement for the period from 1 January to date.
Revenues for the three-month period to 31 March 2008
|
2008 £000 |
2007 £000 |
Change |
|
|
|
|||
|
UK |
111,632 |
105,726 |
+5.6% |
|
Continental Europe |
22,452 |
19,229 |
+16.8% |
|
Group |
134,084 |
124,954 |
+7.3% |
The UK performance benefited from Easter falling in March this year, an event that traditionally has a favourable impact on revenue. During the first quarter, each of our five business sectors and eight product categories in the UK showed positive improvement.
Currency movements of 15.3% significantly influenced the Continental European results with underlying like for like revenues increasing by 1.5%.
Gross margin for the three-month period to 31 March 2008
Our UK commercial business has maintained the growth trend established during 2007, with a like for like increase in revenue of 10.3% during the first quarter. The like for like increase in UK residential revenue amounted to 4.2%.
Volumes sold in our residential cut length business were consistent with last year whilst the number of rolls sold continued to increase.
Notwithstanding this change in product mix, the group's gross margin during the first quarter has improved compared with the same period in 2007.
Outlook
UK revenues for the period 1 January 2008 to 14 May 2008, compared with the corresponding period last year, increased by 4.3% on a like for like basis.
Given this favourable start to 2008, we remain confident of achieving another year of growth.
Enquiries:
Headlam Group plc
Tony Brewer, Group Chief Executive Tel: 01675 433000
Stephen Wilson, Group Finance Director
Related Shares:
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