"Strong rebound" sees 15% sales growth at Headlam
March 9, 2022
Headlam, Europe's biggest flooring distributor, has reported a strong rebound in sales and a return to profits, describing 2021 as a "very positive year."
The UK-based plc said sales for 2021 were up 15.4% to £667.2m in their final results for the year issued today. Gross margin increased to a record 33.0% "owing to the inflationary environment through much of the year".
Profits were £24.4 million in the year to December 31, which compared with a £20.3m loss due to Covid impacts in 2020.
Philip Lawrence, non-executive chairman, commented: "2021 was a very positive year for the Company on a number of fronts. Financial performance rebounded strongly from 2020, when the first half was materially impacted by the emergence of COVID 19; industry
wide issues were able to be largely mitigated; and significant progress was made in implementing the business ch ange strategy
“The Company enters 2022 a far more focused, capable and modern business, with greater opportunity and competitive adv antage to support customers and grow financial performance,” he said.
Headlam noted in its report that the performance of new and improved trade counters under a national roll out programme was exceeding initial expectations, with good customer feedback and would accelerate.
The company's enhanced digital offer, including a new mobile app launched in November 2021, had generated a "pleasing customer response" it said.
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