Headlam Group plc (HEAD), a U.K.-based floorcoverings distributor on Tuesday said that trading for the six months to the end of June 2024 was in line with revised expectations.
Revenue during the period was down 11.8 percent year-on-year, with the U.K. segment down 11.3 percent and Continental Europe down 15.9 percent.
The Group expects to deliver an underlying loss before tax of approximately 16 million pounds, consistent with the May trading update.
The group continues to expect an improvement in trading in the second half of the financial year assuming market conditions gradually improve. However, it does not anticipate the market returning to growth until 2025. The company expects trading for the full year to be in line with current market expectations.
The Group is scheduled to publish its half year results on September 17.
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