Flooring distributor Headlam has told shareholders that sales for 2023 have been flat.
The group’s UK revenue for the year to 31 December was broadly flat versus the prior year, with Continental Europe declining by 7.7%.
‘As explained in our trading update on 12December, 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.’
It said it was still confident of meeting underlying pre-tax profit expectations.
