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(Sharecast News) - Floor coverings distributor Headlam warned on Wednesday that its full-year performance was set to miss expectations as revenues have continued to decline.
In an update for the four months ended 31 October, the company said it has continued to experience "challenging market dynamics and execution", with revenue down 5%.
"This performance is below our expectations outlined at the interim results in September 2025, and therefore the board expects full year performance to be below expectations," it said.
As a result, Headlam has already initiated a comprehensive programme of restructuring, cost reduction and operational improvements and is accelerating the implementation of these measures.
Further details of the programme will be outlined on 11 November.
"These actions are designed to return the group to profitability and strengthen its market position, even if market conditions remain subdued," it said. "The group also remains focused on strengthening the financial position including potential further property disposals.
"The board is confident that these measures, combined with the group's market position and established relationships with suppliers and customers, provides a platform for a return to sustainable profitability and growth."
At 1000 GMT, the shares were down 15.2% at 48p.
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