Headlam Group 2017 interim results
· Total revenue increased by 4.0% to £341.9 million (H1 2016: £328.7 million)
· UK like-for-like revenue growth of 2.1% (H1 2016: 3.4%) and Continental Europe like-for-like revenue growth of 3.0% (H1 2016: 2.8%)
· Gross margin improvement of 103 basis points to 31.06% reflecting efficiency initiatives and more effective organisation and streamlining of the Company's businesses' practices
· Profit before tax increased by 11.0% to £16.8 million (H1 2016: £15.1 million)
· Interim dividend for 2017 increased by 12.7% to 7.55p (2016 interim dividend: 6.70p), equivalent to the uplift in basic earnings per share
· Net funds of £49.8 million as at 30 June 2017 (£33.9 million as at 30 June 2016)
· Appointment of Chris Payne as Chief Financial Officer and Executive Director, who joins the Company on 13 September 2017
· Two bolt-on acquisitions completed in the period, both adding new geographic locations in the UK
· Continued expansion of the distribution network with 60 trade counters (FY 2015: 48; FY 2016: 55)
· Number of operating efficiency initiatives undertaken and ongoing to support future growth
