Shares of Headlam Group Plc (HEAD.L) are down 8 percent on Tuesday's trading after the company revealed wider loss in the first half, impacted by the decline in the worldwide flooring market. Revenue also fell 4 percent from last year.
On the LSE, the stock is trading down 8 percent on Tuesday at 60.99 pence.
The British floor covering distributor posted loss of 36.8 million pounds or 31.7 pence per share in the first half of 2025, compared to loss of 16.2 million pounds or 18.0 pence per share in the same period last year.
On an adjusted basis, loss was 17.3 million pounds or 19.0 pence in the half-year period, compared to loss of 13.8 million pounds or 15.1 pence per share in the year-ago period.
According to Headlam Group, pre-tax loss during the six months widened to 31.8 million pounds from 19.7 million pounds in the corresponding period in fiscal 2024. Adjusted pre-tax loss was 19.9 million in the first half of the year, compared to adjusted pre-tax loss of 15.6 million pounds in the prior-year period.
The company's revenue came in at 244.7 million pounds, down from last year's 256.4 million pounds, with UK revenue also down 3.8 percent and Continental Europe revenue declining by 3.9 percent.
Looking ahead, Headlam Group said that in the fourth quarter, it expects the improving revenue growth reported during the first half to continue.
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