Flooring distributor Headlam has confirmed the scale of its 2024 loss.
The group expects underlying los for the year to 31 December to be £34m.
It comes after a reduction in second half decline was not enough to offset the weakness for the full-year.
‘Further to our trading update published on 5 December 2024, the group’s revenue for the full year declined 9.7% to £593 million,’ says the group.
‘Good growth in revenue from the strategic growth areas of larger customers and trade counters was offset by the impact of the weak market conditions on the regional distribution business. Group revenue in H2 2024 declined by 7.4% compared to an 11.8% decline in H1 2024.’
The group will release its full-year results in March.
