Flooring wholesale group Headlam grew profits by 44 per cent in 2014 as sales climbed 5.3 per cent to £635.2m.

Pre-tax earnings reached £30.3m for the Tamworth headquartered group, which runs in excess of 50 autonomous businesses across the country and Europe.

Sales in the UK were up 7.7 per cent to £548.4m, helping to offset a 2.2 per cent decline in mainland Europe.

Flooring destined for residential use makes up 68 per cent of the sales mix, and was up 5.8 per cent for the year, with commercial flooring sales rising 6.2 per cent.

Headlam paid down debt to the tune of £10m, meaning it was using half of its £40m facility by the balance sheet date, with year-end net cash rising to £24.7m (2013: £14m).

Post 31st December Headlam has acquired the Matty’s Wholesale Carpets business for £2m and says underlying sales across the group from January–February were up 3.1 per cent.