Distributors - LSE - Mcap: £143m - Price: 177p - QuickView
Headlam Group (HEAD)
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.
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Analyst
Milo Bussell
Consumer analyst
consumer@edisongroup.com