Business
Half Year Trading Update
Half Year Trading Update.
About this update from Headlam Group Plc
[{"type":"text","content":"\n \nRNS Number : 8642D Headlam Group PLC 12 July 2016 \n\n12 July 2016\n \nHeadlam Group plc\n(\"Headlam\" or \"the group\")\nHalf Year Trading Update\n \nHeadlam (LSE: HEAD), Europe's leading floorcoverings distributor, announces its pre-close trading update for the six months ended 30 June 2016.\n \nThe group continues to trade in line with board expectations with revenue for the six month period increasing by 4.8% compared with the same period last year.\n \nIn the UK, like for like revenues in the period increased by 3.4% compared with the first six months last year, with residential increasing by 4.7% and commercial up by 0.4%.\n \nCombined revenues from the Continental European businesses, measured in constant currency, increased by 2.8%. On translation to sterling, combined revenues increased by 8.9%.\n \nThe recent UK referendum has resulted in the weakening of sterling against other key currencies. One effect of the prevailing sterling euro exchange rate is to increase the cost to the group of residential floorcoverings, which are imported predominantly from Belgium and the Netherlands, by on average 6.0%. As a consequence, selling price increases of a similar amount will be implemented by the group for these products over the course of the next month.\n \nIt is too early to forecast any other effects that the referendum result may have on the group's business but the board will continue to monitor the situation carefully and manage the group accordingly.\n \nHeadlam intends to issue its interim results for the six months ended 30 June 2016 on Wednesday 24 August 2016.\n \nEnquiries:\n \nHeadlam Group plc \nTony Brewer, Group Chief Executive Tel: +44 (0) 1675 433000\nStephen Wilson, Group Finance ...