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Headlam Group PLC - Birmingham-based floor coverings distributor - Pretax profit grows 53% to £21.6 million in the first half of 2022, versus £14.0 million a year before. Cites proceeds received as part of an ongoing insurance claim for the rise. Revenue amounts to £323.8 million, down 1.8% compared to £329.9 million. Attributes this to a 5% decline in the Residential sector that accounts for 66% of its revenue. Declares an interim dividend of 6.2 pence, up 6.9% from 5.8p a year before.
Looking ahead, it says it remains on track to meet market expectations for 2022. Still cautions that trading remains challenging and operational cost inflation continues.
Current stock price: 280.52 pence, up 6.7% on Tuesday
12-month change: down 43%
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