Headlam in revenue boost
Floor coverings distributor Headlam, which has its head office in Coleshill, has reported a rise in revenue across the group. The business said market conditions "continue to be challenging" but trading has been generally "ahead of last year".
Revenue for the ten months to 31 October 2010 across the group was £443m - up from £441m last year. In the UK, turnover was £358m - up from £355m but in continental Europe, it fell 0.9 per cent to £85.177m.
The company said in its interim management statement: "Whilst markets in the UK continue to be challenging, trading during the year to date, with the exception of January, has been ahead of where we were last year.
"Excluding January, like for like revenue increased by 1.5 per cent during the year to date. For the four month period ended 31 October, like for like revenue increased by 1.7 per cent.
"Overall, our businesses on the continent have produced a satisfactory performance but, during the last four months, trading has weakened slightly due to more difficult market conditions."
It added: "November trading is in line with the year to date performance and assuming no significant deviation from this trend for the remainder of the year, the board is confident that the group will meet its internal performance targets for 2010."
