Pre-Close Update

18 January 2024

Headlam Group plc

('Headlam' or the 'Group')

Pre-Close Update

Trading in line with expectations

Headlam (LSE: HEAD), the leading floorcoverings distributor, today provides a pre-close update in respect of the year ended 31 December 2023 ahead of announcing final results in March 2024.

Underlying profit before tax for the year is expected to be in line with market expectations*, subject to audit.

The Group's UK revenue for the year was broadly flat versus the prior year, with Continental Europe declining by 7.7%. As explained in our trading update on 12^th December 2023, the UK residential market was weak from September, as consumers cut back spending on home improvement projects. The Group's revenue from the commercial sector was more robust, along with revenue from Larger Customers and Trade Counters, which finished the year up 26% and 8.5% respectively, with December being a record month for average daily sales in our Trade Counters business.

The Group's full year results are scheduled to be announced on 5^th March 2024.

* Company-compiled consensus market expectations, on a mean basis, are available on the Company's website at www.headlam.com 

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