Headlam Group Plc (HEAD.L), a British distributor of floorcoverings, on Tuesday announced a loss for the full-year 2024 compared to a profit last year. The company said that the results were impacted by market decline and cost inflation. Annual revenues declined 10 percent from the prior-year.
On the LSE, the company's stock is down 6 percent trading at 104.00 pence.
The company posted pre-tax loss of 41.5 million pounds in fiscal 2024, compared to profit of 7.1 million pounds a year ago. Underlying pre-tax loss, an adjusted measure, came in at 34.3 million pounds, compared to profit of 11.0 million pounds in fiscal 2023.
Net loss for the year was 25.0 million pounds or 31.2 pence per share, versus profit of 7.7 million pounds or 9.6 pence per share in the previous year.
On an underlying basis, loss was 28.1 million pounds or 35.0 pence per share, in contrast to profit of 8.8 million pounds or 10.9 pence per share last year.
Total revenues for the year declined to 593.1 million pounds from 656.5 million pounds in the prior-year. UK revenues were down 8.9 percent and Continental Europe, including France and The Netherlands, declined 14.9 percent.
The company's EBITDA was negative 5.4 million pounds in the year, compared to 36.7 million pounds in fiscal 2023.
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