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Pile of profit for Headlam.

Furnishings wholesaler Headlam, which runs KJC Carpets at Smethwick, saw halear profits rise 30 per cent and predicted further progress.

"Our decision to concentrate on improving the bottom line is paying of" chief executive Ian Kirkham said.

Despite falling consumer spending - which has hit the likes of Carpetright - Headlam managed to increase sales by 38 per cent to pounds 160.7 million in the six months to June 30, taking market share off rivals.

After-tax earnings rose 22 per cent to 9p per share, supporting a dividend up 20 per cent to 2.1p.

"Clearly the task before us is to continue improving our results in the face of a more challenging sales environment," Mr Kirkham said.

"Our strategy has been to place greater emphasis on internally-generated enhancements to sales margins and overhead control, rather than rely on a constantly improving sales picture."
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Publication:The Birmingham Post (England)
Date:Aug 12, 1998
Words:143
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