Floorcovering specialist Headlam (HEAD) has had to upgrade 2016 revenue and profit guidance again following a similar upgrade at the start of December.
Management had previously said that its performance would exceed consensus numbers compiled by analysts, and now it has said strong trading in the final stretches of the year meant it would actually do even better than those revised expectations.
Key to its success seems to have been price rises made in August to help it mitigate the rising costs of manufacturing its goods due to the weakness of sterling. UK like-for-like sales were up 4.7 per cent, nearly 1 percentage point more than the broader market, while European sales grew 3.6 per cent on a constant currency basis, reversing the 3.8 per cent decline in the same period last year.
