Headlam sees strong UK performance

18th May 2011 14:48

Floorcoverings distributor Headlam Group saw revenue increase by 3.9% in the four months ended 30 April, as a poor performance in Europe was offset by strong growth in the UK.UK revenue grew by 5.8%, with the underlying like-for-like performance improving by 8.2%, while revenues from the Continental European business fell by 4.2%, when measured in sterling (-6.3% on a constant currency basis).However, gross margin from both regions was ahead of the corresponding period the year before."Whilst trading has been encouraging, and at this early stage of the year we are on target to achieve the group's performance objectives, we nevertheless remain cautious, due to market conditions continuing to be challenging," warned chief executive Tony Brewer.---BC