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Headlam Group PLC - Birmingham, England-based floor coverings distributor - Expects 2023 results to be broadly in line with expectations, based on trading patterns observed to date. However, it notes the market in September and October was ‘weaker than expected’, reflecting the impact of the cost-of-living crisis on the residential repair, maintenance and improvement market, as consumers cut back spending on home improvement projects. Headlam says that trading improved in November. For the eleven months to November 30, says revenue was flat year-on-year due to revenue decline in Continental Europe. ‘The group’s strong cash generation, along with the positive medium-term prospects, enables us to continue to invest in broadening market presence and building capabilities, to position the business well as the market improves and volumes recover,’ it says.
Current stock price: 200.80 pence, down 4.8%
12-month change: down 34%
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