News

Headlam says H2 'challenging'

19 November 2008 14:53:00

Floor coverings specialist Headlam said the trading environment during the second half of 2008 has been significantly more challenging than the first.

Revenues declined during the third quarter, with UK like for like sales down 4.5% on the same period in the previous year.

"Assuming no material deterioration in the rate of revenue loss during the remaining weeks of 2008, the board remains confident that, prior to absorbing the cost of any proposed restructuring, results for 2008 will be broadly in line with the group's revised trading objectives," said the group.

"Despite this recent contraction in group revenues, market indicators suggest the group is outperforming the floorcovering market and increasing market share," it added.

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