Headlam total revenue down 8.5%

18th May 2009 15:39

Europe's leading floorcoverings distributor Headlam said total group revenue fell 8.5% during the first four months of 2009.Overall, UK revenue decreased by 11.8%, but after adjusting for the differences in working days during the two periods, due to Easter, like for like performance in the UK decreased by 10.8%. The like for like reductions in residential and commercial activity were 11.8% and 8.4% respectively.Collectively, the Continental European businesses registered an increase in revenue of 7.7%UK revenues during May are likely to show a decrease of approximately 9% on the previous year, registering a modest improvement compared with the previous four months. Revenues from its Continental businesses during May will probably be consistent with the performance achieved so far this year."Whilst the trading environment continues to be challenging, we remain fixed on our operating strategy and based on the results so far, maintain our belief that the group should achieve its operating objectives for the year," said the group.