Business
Trading Update and New Distribution Centre
Trading Update and New Distribution Centre.
About this update from Headlam Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 0883U\n Headlam Group PLC\n 27 July 2020\n \n \n \n \n 27 July 2020\n \n \n Headlam Group plc\n \n \n ('Headlam' or the 'Company')\n \n \n \n \n \n Pre-Close Trading Update and New Distribution Centre Operational\n \n \n \n \n \n Headlam Group plc (LSE: HEAD), Europe's leading floorcoverings distributor, today announces a trading update in respect of the six months ended 30 June 2020 (the \n '\n Period\n '\n ) ahead of announcing its interim results on Thursday, 3 September 2020\n . \n \n \n \n \n \n As previously announced, trading had been resilient and broadly in-line with that of the prior year until 24 March 2020, when the vast majority of the Company\n '\n s UK operations were closed following the UK Government guidance issued at that time in response to the emerging COVID-19 pandemic.\n \n \n \n \n \n Whilst the UK and French businesses were significantly affected, the Company\n '\n s other smaller operations in Switzerland and the Netherlands continued to trade comparatively well due to less restrictive governmental measures, with only a small minority of the workforce subject to the equivalent of the UK Government's Furlough Scheme.\n \n \n \n \n \n Total revenue for the Period of £242.1 million was 30.6% below the comparative period in 2019 (H1 2019: £348.7 million), being 34.4% and 9.6% below in the UK and Continental Europe respectively. However, the UK revenue profile recovered strongly during June 2020 following the reopening of \n all of the Company\n '\n s principal distribution centres by late May 2020 and the reopening of retail businesses in mid-June 2020. \n \n \n \n \n \n The below table details the UK revenue performance during the Period.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Q1 2020\n \n \n \n \n April 2020\n \n \n \n \n May 2020\n \n \n \n \n June 2020\n \n \n \n \n H1 2020 Total\n \n \n \n \n \n \n H1 2020 revenue shortfall as a % of that reported in H1 2019\n \n \n \n \n 5.7%\n \n \n \n \n 95.7%\n \n \n \n \n 72.2%\n \n \n \n \n 14.0%\n \n \n \n \n 34.4%\n \n \n \n \n \n \n \n \n Following the site closures in March 2020, \n the Company took a demand-led and phased approach to the reopening of its UK operations, adhering to all UK Government guidelines and prioritising the safety and protection of its people, cus...