* 2010 pretax profit 25.0 mln stg vs f'cst 24.1 mln stg
* Revenue 535.7 mln stg, up 0.4 pct
* Dividend 12.4 pence, up 12.7 pct
* Says made positive start to 2011
LONDON, March 11 European floorcoverings
distributor Headlam (HEAD.L) posted a better than expected 13.3
percent rise in year profit, hiked its dividend 12.7 percent and
said it has made a good start this year.
"We have made a positive start to 2011 and whilst January
and February are relatively lower trading months, it does give a
good indication to future trading assuming normal seasonality,"
said Chairman Graham Waldron.
The firm, which distributes floorcoverings to independent
retailers and contractors in the UK, the Netherlands, France and
Switzerland, said on Friday it made a pretax profit of 25.0
million pounds ($40 million) in 2010.
That compares with analysts' average forecast of 24.1
million pounds, according to Thomson Reuters I/B/E/S data, and
22.1 million pounds made in 2009.
Revenue rose 0.4 percent to 535.7 million pounds, with
like-for-like revenue in the UK, a market which represents 81
percent of group revenue, also up 0.4 percent.
The firm said the revenue increase was achieved despite
reductions in market size in both the UK and Continental Europe.
The company ended the year with net cash of 10.5 million
pounds and is paying a dividend of 12.4 pence.
Shares in Headlam closed Thursday at 300 pence, valuing the
business at about 249 million pounds.
Last month Carpetright CATVU.L, Britain's biggest floor
coverings retailer, warned on profits after a third-quarter
sales slump, showing how a weak housing market, tax hikes and
government cuts have hit consumer confidence. [ID:nLDE70R0ZM]
(Reporting by James Davey, editing by Julie Crust)