Headlam's volumes slide

Headlam (HEAD) is being hit by an unpleasant cocktail of macroeconomic headwinds. Lower residential consumer spending and fewer housing completions spells bad news for the floorcoverings distributor. This was apparent in the decline in units shifted, with UK volumes 5 per cent lower against last year and rolling volumes sitting a fifth below pre-pandemic levels. It was also evident in the cut to the interim dividend.