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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 £41.8 million on revenue of £663.6 million.
Current stock price: 239.99 pence each, down 8.8% on Thursday morning in London
12-month change: down 28%
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