The British floor covering distributor Headlam expects a 10% drop in net profits vis à vis the comparative period last year for the first half of this year. In the first six months of 2012 the group achieved period profit of £7.8m. In a trading update of 8 July, Headlam explained that the expected decline in profit was due to consistently difficult market conditions and declines in turnover on the British market and as well as on the European continent. Against this background, group turnover slumped in the first four months of the year. In May and June virtually the same figure as last year was achieved.
Source:
http://www.euwid-wood-products.com/news/building-products/single/Artikel/headlam-expects-lower-profit-in-first-half-year.html
