Headlam Group plc Reports Consolidated Earnings Results for the Year Ended December 31, 2017; Provides Tax Rate Guidance for the Year 2018
March 06, 2018 at 02:00 am EST
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Headlam Group plc reported consolidated earnings results for the year ended December 31, 2017. For the year, the company reported underlying revenue of £707,764,000 against £693,572,000 a year ago. Total revenue was £707,764,000 against £693,572,000 a year ago. Underlying operating profit was £43,783,000 against £41,072,000 a year ago. Operating profit was £41,384,000 against £39,145,000 a year ago. Underlying profit before tax was £43,118,000 against £40,106,000 a year ago. Profit before tax was £40,719,000 against £38,179,000 a year ago. Underlying profit for the year attributable to the equity shareholders was £35,142,000 against £32,505,000 a year ago. Profit for the year attributable to the equity shareholders was £32,922,000 against £30,963,000 a year ago. Underlying diluted earnings per share was 41.5 pence against 38.5 pence a year ago. Earnings per share diluted were 41.5 pence against 38.5 pence a year ago. Earnings per share diluted were 38.9 pence against 36.6 pence a year ago. Net cash flow from operating activities was £43,197,000 against £32,641,000 a year ago. Acquisition of property, plant and equipment was £3,058,000 against £2,963,000 a year ago. Net debt as at December 31, 2017 was £35,278,000.
For the year 2018, the company expects effective underlying rate for 2018 is expected to be 17.5%.
Headlam Group plc is a United Kingdom-based floorcoverings distributor. The principal activities of the Company and its subsidiaries are the sales, marketing, supply and distribution of floorcoverings and certain other ancillary products in the United Kingdom and certain Continental European territories. It has a customer base spanning independent and multiple retailers, small and large contractors, and housebuilders. The Company works with suppliers across the globe manufacturing the broadest range of products, and gives them a route to market, selling their products to a large and diverse trade customer base. It provides its customers with a service through the product range, in-depth knowledge, e-commerce and marketing support, and nationwide next day delivery service. It operates about 67 businesses and trade brands across the United Kingdom and Continental Europe (France and the Netherlands), which are supported by its network, central resources, and processes.