StockMarketWire.com - Floorcoverings distributor Headlam swung to a loss as revenue was significantly impacted by the COVID-19 pandemic and government-imposed lockdown measures.

The company, however, said it had returned to profit in the second half as lockdown measures eased.

July 2020 revenue was above that of July 2019, driven by a 'strong' residential sector performance, while revenue in August, was marginally below the prior year, the company said.

For the six months ended 30 June 2020, the company reported a pre-tax loss of £23.9m, compared with a profit of £16.0m on-year as revenue fell 30.6% to £242.1m.

'We have returned to profitability in the second-half with a pleasing performance to-date given the economic backdrop, and the mitigating actions we have in place should there be a substantial resurgence of COVID-19,' the company said.


At 8:53am: [LON:HEAD] Headlam Group PLC share price was -1.5p at 303.5p



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