New Risk • Jun 10
New major risk - Revenue and earnings growth Earnings have declined by 55% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 55% per year over the past 5 years. Minor Risk Market cap is less than US$100m (UK£20.9m market cap, or US$27.9m). Announcement • Apr 28
Headlam Group plc, Annual General Meeting, May 20, 2026 Headlam Group plc, Annual General Meeting, May 20, 2026. Location: gorsey lane, birmingham, b46 1ju, coleshill United Kingdom Announcement • Apr 14
Headlam Group plc Announces Board and Committee Changes, Effective 20 May 2026 Headlam Group plc announced the strengthening of its Board through two independent Non-Executive Director appointments. Nick Kelsall will join the Board as an independent Non-Executive Director on 20 May 2026, and will join the Audit, Nominations and Remuneration Committees on appointment. Nick served as Chief Executive Officer and Executive Director of Norcros plc from April 2011 to March 2023, having previously held the position of Chief Financial Officer at Norcros plc for over 14 years. In addition, Wilf Walsh will join the Board as an independent Non-Executive Director on 20 May 2026, and will also join the Audit, Nominations and Remuneration Committees on appointment. Wilf served as Chief Executive Officer and Executive Director of Carpetright from 2014 to 2021 and then as Chair of parent company, Nestware Holdings until his retirement in 2022. He currently serves as Chair of the Racecourse Association, Chair of Cricket Scotland and Chair Elect of Exeter City Football Club. In addition, he is a Board Member of the British Horseracing Authority and the Horserace Betting Levy Board. Robin Williams, Non-Executive Director and Chair of the Audit Committee, has notified the Board that he does not intend to stand for re-election at the AGM and will accordingly step down from the Board on 20 May 2026. Nick will assume the role of Audit Committee Chair from 20 May 2026. Announcement • Mar 19
Headlam Group plc to Report Fiscal Year 2025 Results on Mar 25, 2026 Headlam Group plc announced that they will report fiscal year 2025 results on Mar 25, 2026 Announcement • Jul 07
Headlam Group plc to Report First Half, 2025 Results on Sep 16, 2025 Headlam Group plc announced that they will report first half, 2025 results on Sep 16, 2025 Announcement • Mar 24
Headlam Group plc, Annual General Meeting, May 22, 2025 Headlam Group plc, Annual General Meeting, May 22, 2025. Location: headlam group plc, gorsey lane, b46 1ju, coleshill United Kingdom Announcement • Mar 12
Headlam Group plc Announces No Interim or Final Ordinary Dividend in Respect of 2024 Headlam Group plc announced No interim or final ordinary dividend has been declared or proposed in respect of 2024 (2023: total dividend of 10.0 pence comprising interim and final combined). Announcement • Mar 04
Headlam Group plc to Report Fiscal Year 2024 Results on Mar 11, 2025 Headlam Group plc announced that they will report fiscal year 2024 results at 8:00 AM, GMT Standard Time on Mar 11, 2025 Announcement • Feb 28
Headlam Group plc Announces Board and Committee Changes Headlam Group plc announced that, following a successful handover to Stephen Bird as part of the Company's Chair succession plan, Keith Edelman will step down from the Board with immediate effect and his roles as Chair of the Company and its Nomination Committee will pass to Stephen Bird. Keith has been a Director of the Company for over six years and the Board is grateful to Keith for his service as both Non-Executive Director and, latterly as Chair, and wish him well for his future ventures. The Board confirmed that Stephen Bird will take over as Chair of the Company and its Nomination Committee with immediate effect, and Stephen will stand for re-election at the AGM in May 2025. The Board also announce that Jemima Bird, Chair of their Remuneration Committee, has also been appointed as Senior Independent Director with immediate effect. Announcement • Dec 20
Headlam Group plc Announces Board Changes Headlam Group plc announced that Keith Edelman has informed the Board of his intention to step down from his role as Chair of the Company. Keith will support a managed transition to his successor, Stephen Bird, and will not seek re-election as a Director at the Company's Annual General Meeting in May 2025. Keith has been a Director of the Company for six years and the Board is grateful to Keith for his service as both Non-Executive Director and, latterly, as Chair, and wish him well for his future ventures. The Board announced that Stephen Bird will be appointed Chair of the Company and its Nomination Committee with effect from the Company's AGM in May 2025, and Stephen will stand for re-election at the AGM in May 2025. Stephen has extensive executive experience developing successful, customer-led growth strategies to help businesses grow and adapt to changing markets. He had been Group Chief Executive of Videndum plc since 2009 and recently stepped down from that role. Previously he was Senior Independent Director of Dialight plc and was Divisional Managing Director of Weir Oil & Gas. Stephen has also held senior roles at Danaher Corporation, Black & Decker, and Technicolor Group. New Risk • Mar 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 31% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 104% Paying a dividend despite having no free cash flows. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (1.2% net profit margin). Announcement • Mar 06
Headlam Group plc to Report First Half, 2024 Results on Sep 03, 2024 Headlam Group plc announced that they will report first half, 2024 results on Sep 03, 2024 New Risk • Mar 06
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.2% Last year net profit margin: 5.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (1.2% net profit margin). Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: UK£0.096 (vs UK£0.40 in FY 2022) Full year 2023 results: EPS: UK£0.096 (down from UK£0.40 in FY 2022). Revenue: UK£656.5m (down 1.1% from FY 2022). Net income: UK£7.70m (down 77% from FY 2022). Profit margin: 1.2% (down from 5.1% in FY 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Board Change • Nov 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CFO & Director Adam Phillips was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Oct 19
Upcoming dividend of UK£0.04 per share at 8.1% yield Eligible shareholders must have bought the stock before 26 October 2023. Payment date: 28 November 2023. Payout ratio is a comfortable 62% and this is well supported by cash flows. Trailing yield: 8.1%. Within top quartile of British dividend payers (6.5%). Higher than average of industry peers (4.5%). New Risk • Oct 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.6% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Sep 06
First half 2023 earnings released: EPS: UK£0.046 (vs UK£0.21 in 1H 2022) First half 2023 results: EPS: UK£0.046 (down from UK£0.21 in 1H 2022). Revenue: UK£331.8m (up 2.5% from 1H 2022). Net income: UK£3.70m (down 79% from 1H 2022). Profit margin: 1.1% (down from 5.3% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 78% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Sep 06
Headlam Group plc Declares an Interim Ordinary Dividend for the Six Months Ended 30 June 2023, Payable on 28 November 2023 The board of Headlam Group plc have declared an interim ordinary dividend of 4.0 pence per share for the six months ended 30 June 2023 (2022: interim ordinary dividend 6.2 pence per share). This will be payable on 28 November 2023 to shareholders on the register as at 27 October 2023 and equates to a cash outflow of £3.2 million. Announcement • Sep 05
Headlam Group plc Announces Operating Guidance for 2023 Headlam Group plc announced with rolling annual volumes currently 20% lower than 2019, volumes expected to significantly improve over the medium-term providing opportunity for material uplift to profit due to high operational gearing. Announcement • Jul 29
Headlam Group plc to Report Q2, 2023 Results on Sep 05, 2023 Headlam Group plc announced that they will report Q2, 2023 results on Sep 05, 2023 Upcoming Dividend • May 04
Upcoming dividend of UK£0.11 per share at 6.1% yield Eligible shareholders must have bought the stock before 11 May 2023. Payment date: 02 June 2023. Payout ratio is a comfortable 43% but the company is not cash flow positive. Trailing yield: 6.1%. Within top quartile of British dividend payers (5.8%). Higher than average of industry peers (3.8%). Board Change • Apr 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. CFO & Director Adam Phillips was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: UK£0.40 (vs UK£0.24 in FY 2021) Full year 2022 results: EPS: UK£0.40 (up from UK£0.24 in FY 2021). Revenue: UK£663.6m (flat on FY 2021). Net income: UK£33.6m (up 69% from FY 2021). Profit margin: 5.1% (up from 3.0% in FY 2021). Revenue is forecast to grow 2.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Feb 10
Headlam Group plc to Report Fiscal Year 2022 Results on Mar 08, 2023 Headlam Group plc announced that they will report fiscal year 2022 results on Mar 08, 2023 Announcement • Jan 06
Headlam Group plc (LSE:HEAD) acquired Birch Close Trading Ltd. Headlam Group plc (LSE:HEAD) acquired Birch Close Trading Ltd on January 4, 2023. Headlam Group acquired Melrose Interiors Limited, subsidiary of Birch Close Trading in the same transaction.Headlam Group plc (LSE:HEAD) completed the acquisition of Birch Close Trading Ltd on January 4, 2023. Announcement • Nov 21
Headlam Group plc Appoints Adam Phillips as Chief Financial Officer Headlam Group plc announced the appointment of Adam Phillips who will join the Board of Directors as Chief Financial Officer in April 2023 at the latest. Adam is currently Group Financial Controller at National Express Group PLC, the FTSE 250 leading international transport provider, where he is responsible for group financial reporting and control. In addition, he heads up other group finance functions includingFinancial Planning and Analysis, and Investor Relations. Prior to this Adam was at Halfords Group plc, the UK's leading provider of Motoring and Cycling products and services, where latterly he was Corporate Finance Director and Group Strategy Director. Adam is a qualified Chartered Accountant having trained and spent 8 years with KPMG and is a fellow of the Institute of Chartered Accountants in England and Wales. Upcoming Dividend • Oct 20
Upcoming dividend of UK£0.062 per share Eligible shareholders must have bought the stock before 27 October 2022. Payment date: 28 November 2022. Payout ratio is a comfortable 45% but the company is not cash flow positive. Trailing yield: 5.9%. Lower than top quartile of British dividend payers (6.2%). Higher than average of industry peers (3.7%). Announcement • Oct 11
Headlam Group plc Announces Board Appointments Headlam Group plc announced the appointments of Robin Williams and Jemima Bird to the Board as Independent Non-Executive Directors, both with immediate effect. Robin has over 30 years' experience with listed companies, including as founder CEO and Executive Director with FTSE250 companies within the packaging andthe building materials industries. He is currently Non-Executive Chairman of Keystone Law Group plc and FIH Group plc, and a Non-Executive Director at The Manufacturing Technology Centre Ltd. He was previously a Non-Executive Director at Van Elle Holdings plc and Non-Executive Chairman of Xaar plc, stepping down in 2020 after 10 years on the Board. Jemima has over 20 years' retail experience working with many of the UK's leading high street brands, and has held numerous Executive Commercial, Marketing and Operations positions. She is currently Senior Independent Director and Non-Executive Director at Revolution Bars Group plc, and was previously a Non-Executive Director at Carpetright plc until it was taken private in 2020. Following these appointments, Amanda Aldridge and Simon King have stepped down from the Board. Robin and Jemima have joined the Company's Audit, Nomination and Remuneration Committees, with Robin becoming Chair of the Audit Committee and Jemima becoming Chair of the Remuneration Committee, with Independent Non-Executive Director Stephen Bird assuming the role of Senior Independent Director. Reflecting the very tight labour market for high calibre candidates, the Company is still in the process of appointing a permanent Chief Financial Officer. While the Board is keen to make an appointment, it will not rush unnecessarily, with the Company having a very competent and comprehensive finance team in place supported by Patrick Butcher as Interim Chief Financial Officer. Reported Earnings • Sep 07
First half 2022 earnings released: EPS: UK£0.21 (vs UK£0.12 in 1H 2021) First half 2022 results: EPS: UK£0.21 (up from UK£0.12 in 1H 2021). Revenue: UK£323.8m (down 1.8% from 1H 2021). Net income: UK£17.3m (up 77% from 1H 2021). Profit margin: 5.3% (up from 3.0% in 1H 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Retail Distributors industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 13% per year, which means it is performing significantly worse than earnings. Announcement • Sep 01
Headlam Group plc Announces Appointment of Karen Hubbard as Independent Non-Executive Director Headlam Group plc announced the appointment of Karen Hubbard to the Board as an Independent Non-Executive Director with effect from 1 September 2022. Karen has over 25 years' experience in retail, at both Executive and Director levels across various industries and markets. She was previously Chief Executive Officer of Card Factory plc, the UK's leading specialist retailer of greeting cards, gifts, wrap and bags, where she diversified their income from a UK High Street business to a Multi Channel, International, Wholesale and Franchised operation. Karen has also served as Chief Operating Officer at B&M, on the ASDA Stores Executive Board as Executive Director for Property, Multi-Channel and Format Development, in addition to working for BP Oil in their Retail divisions. Karen currently serves as Chair in privately backed businesses Custom Materials Limited, Character.com, and Redu Group. In addition, she is a Non-Executive Director of St Austell Brewery. Karen will join the Company's Audit, Nomination and Remuneration Committees from the effective date. Karen does not hold any Headlam shares. Announcement • Jul 29
Headlam Group plc to Report First Half, 2022 Results on Sep 06, 2022 Headlam Group plc announced that they will report first half, 2022 results on Sep 06, 2022 Buying Opportunity • Jun 30
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 23%. The fair value is estimated to be UK£3.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.3% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 2.5% per annum. Earnings is also forecast to grow by 20% per annum over the same time period. Upcoming Dividend • Apr 28
Upcoming dividend of UK£0.26 per share Eligible shareholders must have bought the stock before 05 May 2022. Payment date: 27 May 2022. Payout ratio is a comfortable 61% and the cash payout ratio is 96%. Trailing yield: 4.7%. Within top quartile of British dividend payers (4.7%). Higher than average of industry peers (2.0%). Reported Earnings • Mar 10
Full year 2021 earnings: Revenues in line with analyst expectations Full year 2021 results: Revenue: UK£667.2m (up 9.5% from FY 2020). Net income: UK£19.9m (up UK£40.2m from FY 2020). Profit margin: 3.0% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 4.8%, compared to a 4.0% growth forecast for the retail industry in the United Kingdom. Upcoming Dividend • Oct 21
Upcoming dividend of UK£0.058 per share Eligible shareholders must have bought the stock before 28 October 2021. Payment date: 29 November 2021. Trailing yield: 2.4%. Lower than top quartile of British dividend payers (4.0%). Higher than average of industry peers (1.2%). Reported Earnings • Sep 05
First half 2021 earnings released: EPS UK£0.12 (vs UK£0.30 loss in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: UK£329.9m (up 45% from 1H 2020). Net income: UK£9.80m (up UK£34.9m from 1H 2020). Profit margin: 3.0% (up from net loss in 1H 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance. Announcement • Aug 06
Headlam Group Plc's Ordinary Shares to Be Deleted from Other OTC Headlam Group plc's Ordinary Shares will be deleted from other OTC effective from August 5, 2021 due to Inactive Security. Board Change • Jul 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Senior Independent Director Keith Edelman was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • May 01
The management team comprising Patrick Meier, Peter Jud, Robert Engel and Joel Schneider agreed to acquire Belcolor AG from Headlam Group plc (LSE:HEAD) for £0.9 million. The management team comprising Patrick Meier, Peter Jud, Robert Engel and Joel Schneider agreed to acquire Belcolor AG from Headlam Group plc (LSE:HEAD) for £0.9 million on April 30, 2021. The consideration will be paid in cash. Headlam will realize approximately £12 million in cash including a pre-completion cash dividend of £11.1 million. The management team will acquire 100% of Belcolor through a new entity, while continuing to operate the business under the Belcolor name. For the year ended March 31, 2021 gross assets were £18 million. For the year ended December 31, 2020, Belcolor reported revenue of £31.1 million. The deal is expected to close on May 17, 2021. The proceeds of the disposal will be directed towards investment in the Company's operations to optimize performance and growth as well as expediate the attainment of the targeted net debt and dividend distribution parameters. Erik Anderson and Dominic Morley of Panmure Gordon (UK) Limited acted as corporate broker to Headlam Group plc. David Flin and Alex Wright of Investec Bank plc acted as corporate broker to Headlam Group plc. Upcoming Dividend • Apr 29
Upcoming dividend of UK£0.02 per share Eligible shareholders must have bought the stock before 06 May 2021. Payment date: 28 May 2021. Trailing yield: 0.9%. Lower than top quartile of British dividend payers (4.1%). Lower than average of industry peers (1.2%). Executive Departure • Apr 03
Independent Non-Executive Director has left the company On the 31st of March, Alison Littley's tenure as Independent Non-Executive Director ended after 2.2 years in the role. We don't have any record of a personal shareholding under Alison's name. Alison is the only executive to leave the company over the last 12 months. Reported Earnings • Mar 26
Full year 2020 earnings released: UK£0.24 loss per share (vs UK£0.34 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: UK£609.2m (down 15% from FY 2019). Net loss: UK£20.3m (down 171% from profit in FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 67 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 10
Full year 2020 earnings released: UK£0.24 loss per share (vs UK£0.34 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: UK£609.2m (down 15% from FY 2019). Net loss: UK£20.3m (down 171% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 67% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 10
Revenue beats expectations Revenue exceeded analyst estimates by 0.02%. Over the next year, revenue is forecast to grow 9.6%, compared to a 3.6% growth forecast for the Retail Distributors industry in the United Kingdom. Is New 90 Day High Low • Mar 05
New 90-day high: UK£4.12 The company is up 14% from its price of UK£3.61 on 04 December 2020. The British market is up 4.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Retail Distributors industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£36.13 per share. Is New 90 Day High Low • Jan 22
New 90-day high: UK£3.99 The company is up 43% from its price of UK£2.79 on 23 October 2020. The British market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 31% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£32.84 per share. Announcement • Jan 21
Headlam Group plc to Report Fiscal Year 2020 Results on Mar 09, 2021 Headlam Group plc announced that they will report fiscal year 2020 results on Mar 09, 2021 Is New 90 Day High Low • Jan 07
New 90-day high: UK£3.89 The company is up 48% from its price of UK£2.63 on 07 October 2020. The British market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 30% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£30.68 per share. Announcement • Dec 17
Headlam Group plc Announces Resignation of Alison Littley as Non-Executive Director and Chair of the Remuneration Committee, Effective March 31, 2021 Headlam Group plc announced that Alison Littley, Non-Executive Director and Chair of the Remuneration Committee, will step down from the Board with effect from 31 March 2021. Is New 90 Day High Low • Dec 11
New 90-day high: UK£3.76 The company is up 34% from its price of UK£2.80 on 08 September 2020. The British market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Retail Distributors industry, which is up 27% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is UK£31.03 per share.