Business
Final Results 2016
Final Results 2016.
About this update from Headlam Group Plc
[{"type":"text","content":"\n \nRNS Number : 6809Y Headlam Group PLC 07 March 2017 \n\n 7 March 2017\nHeadlam Group plc\n(\"Headlam\" or the \"Company\")\n \nFinal Results for the year ended 31 December 2016\n \nHeadlam Group plc (LSE: HEAD), Europe's largest distributor of floorcoverings, is pleased to announce its final results for the year ended 31 December 2016.\n \nFinancial Highlights:\n \n· Total revenue increased by 6.0% to £693.6 million (2015: £654.1 million)\n· Significant outperformance of the 3.8% growth in the UK floorcoverings market* with UK like-for-like** revenue growth of 4.7% in 2016 (2015: UK like-for-like** growth 3.9%)\n· Underlying*** profit before tax increased by 12.6% to £40.1 million (2015: £35.6 million)\n· Statutory profit before tax increased by 7.3% to £38.2m (2015: £35.6 million)\n· Basic underlying*** earnings per share increased by 14.5% to 38.7 pence (2015: 33.8 pence)\n· Total ordinary dividend in respect of the 2016 financial year increased by 8.9% to 22.55 pence (2015: 20.70 pence)\n· Special dividend of 8.0 pence also declared in respect of the 2016 financial year (2015: special dividend of 6.0 pence)\n· Net cash position of £52.6 million as at 31 December 2016, an increase of 19.8% on 2015 (31 December 2015: £43.9 million)\n \nOperational Highlights:\n \n· Improved operating performance as a consequence of increased revenue and leveraging of the extensive distribution network, with underlying*** operating margin of 5.9% (2015: 5.6% (after adjusting for one-off benefit))\n· No discernible impact on trading following the EU referendum in June 2016, and able to implement price increases to mitigate cost inflation due to a weakening of Sterling\n· Continued expansion of the distribution network with seven service centres opened in 2016, and one post the year-end, bringing the total number of service centres to 55\n \nPost Year-End:\n \n· Tony Judge, who has worked at Headlam for more than 24 years, will be appointed to t...