Headlam – interims, how creditable is “in line with expectations”?

Previously writing on group describing itself as “the UK's leading floorcoverings distributor” Headlam (HEAD), I noted is the emphasising of “scheduled” trying to reassure on the trading update from a 142.5p share price?. The shares most recently closed at 153.5p, but what of them currently heading back down towards 142.5p on the back of now its results for the first half of 2024?

Headlam (#HEAD) – H1 swing to loss, dividend axed, “limited indication of any market improvement yet”

Headlam – emphasises “trading in line with revised expectations”, but how creditable is that?…

Describing itself as “the UK's leading floor coverings distributor”, Headlam Group (HEAD) has issued what it emphasises is a “scheduled update in respect of trading in the six months to the end of June 2024, ahead of announcing half year results on 17th September”. Is the emphasising of “scheduled” trying to reassure on the trading update from a 142.5p share price?

Headlam (#HEAD) – H1 revenue -11.8% YoY and adj. LBT approx. £16m

Headlam – “significantly below” (lack of) profit warning… and will market conditions really gradually improve in the second half?

Previously writing on “the UK's leading floorcoverings distributor” Headlam (HEAD), in December I concluded with the shares down towards 200p that macro headwinds and net debt suggested to continue to avoid. The shares reached 225p early this year, though most recently closed at 176.5p… and what of them currently below 160p on the back of a “trading update”?

Headlam (#HEAD) – 4 months to end-April revenue -12.3% YoY, “April did not show the expected seasonal uplift”

Headlam – “November trading was improved”, BUT…

“The UK's leading floorcoverings distributor” Headlam Group (HEAD) was downgraded to a sell as the shares fell towards 275p last year on the N50 website, noting outlook macro headwinds. The shares fell below 180p last month before most recently closing at 211p. What of though now a latest “trading update”?

Headlam (#HEAD) – November “volumes and revenue remained below the previous year and typical seasonal uplifts”

Headlam (#HEAD) – H1 adj. EPS down to 6.1p, DPS -35% to 4p, headwinds “likely to persist into 2024”

Headlam (#HEAD) – H1 revenue +2.5% YoY but profit down and expects FY “significantly below current market expectations”

Headlam (#HEAD) – four months revenue +3.4% YoY, though reduced gross margin

Headlam (#HEAD) – 2022 adj. EPS +13%, DPS +6%, currently revenue “slightly ahead of last year”

Thoughts on today's updates from Kingfisher and Headlam

Whilst the Americans eat turkey and talk to their friends and family about how much they have lost in their investments since the last Thanksgiving day, a couple of UK stocks grab my attention this morning.

Headlam (#HEAD) – expects FY adj. profit ahead of 2021 but marginally below low end of range of market expectations

Headlam – interims, still a trading resilience Buy?

Floorcoverings distributor Headlam Group (HEAD) has announced results for the first half of 2022 and that trading resilience continues with it remaining on track to meet market expectations for the year.

Headlam – half-year trading statement, a value Buy?

Headlam Group (HEAD) has announced a “pleasing” half year performance and that it “remains on track to meet market expectations for the year”.

Headlam – AGM trading update, further profit progress: BUY

Floorcoverings distributor group Headlam (HEAD) has issued an AGM trading update including that it “continues to be comfortable with profit expectations for the year”. So what of a current 338p share price?

Headlam (#HEAD) – revenue in-line with prior year, profit above “due to strong margins”

Headlam – 2021 results, further trading improvement to follow: BUY

Europe's leading floorcoverings distributor group Headlam Group (HEAD) has announced its results for the 2021 calendar year and said “trading in January and February 2022 in line with plan, with the strong margin performance in 2021 maintained into 2022”.

Positive day on the markets…but what I’m excited by is Headlam

I am sure that almost everyone is feeling more comfortable about the stock market today…except anyone who sold all their positions a day or two ago. Of course one day of positive performance means very little, but that is the markets for you. Nearly fifty percent of days will be up…and nearly fifty percent will be down and the real key - apart from finding some innovative and sensible corporate names - is to buy when others are fearful and sell when others are greedy. So I do hope you bought some more of a share or two you like late last week or early this week. As for today, I’ve been looking at latest corporate numbers and, like the complete sad sack I am, so far have racked up three corporate conference calls...