Final business day of April...and Barclays lets me down
It is the final business day of April and from the perspective of stocks I own, there is some good and some less good news. Let’s start with a small positive at Headlam (HEAD) the ‘Europe’s leading floorcoverings distributor’ which I have loved up for a while and last month, here, discussed ‘the rationale to get back to a 500p plus share price’. This morning I noted the company announced ‘it has entered into an agreement to dispose of its wholly-owned Swiss business, Belcolor AG to the management team of Belcolor...As a result of the disposal, Headlam will realise approximately £12.0 million'. Given the company’s near £400 million market cap, it is not a massive deal but a sensible one, as the key focus for the business is the evolving UK business. It is also nice to add a little bit more cash too. In short - along with the two readers who kindly commented on the article above last month - for me it continues to be a good core position.