Headlam Group - Strategy for growth in tougher market
Headlam Group has laid out an ambitious long-term revenue target of between £900m and £1bn, as it seeks to grow its share of the UK floor coverings distributor market. Despite a challenging backdrop due to the low level of residential housing transactions, management is seeking to expand each of its sales channels: Trade Counters, Larger Customers, Regional Distribution and Europe & Other. The FY23 results reflected the more challenging environment and the group trades at a discount to its long-term average EV/sales multiple for FY24.Headlam Group is a distributor of floorcoverings. Co.'s principal activities include the sales, marketing, supply and distribution of floorcoverings and certain other ancillary products. Co.'s customer base comprises principally independent retailers and flooring contractors and spans both the residential and commercial sectors. As of Dec 31 2017, Co. had 59 operating segments in the U.K. and three operating segments in Continental Europe.
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