Floorcoverings firm Headlam Group has revealed a growth in revenue in the first quarter of 2016, with UK ‘residential’ sales out performing ‘commercial business’.
Total sales for the first four months to 30 April 2016 rose by 4.5%, with UK like-for-like sales up by 4% and Continental European sales also increasing by 2.2%.
Dick Peters, Headlam chairman, commented on the early performance: “In the UK, the overall like-for-like increase in revenue was 4.0% with a strong expansion in residential activity at 6.1%, significantly ahead of the commercial business which marginally declined by 0.4% during the period.
“The group’s revenue increase, in combination with gross margin and expenses in-line with trading expectations, has resulted in the operating margin showing further improvement compared with the equivalent period last year.
“Whilst early in the year, and with the busy trading months ahead, the board remains confident of achieving further progress during 2016.”
Headlam has developed an operating structure that includes 56 businesses across the UK and a further five in continental Europe.