1st Feb 2021 09:03
(Alliance News) -Â James Halstead PLC on Monday said it has continued to trade at normal levels through lockdowns in the first half of its financial year but it has been "hard work".
The commercial flooring manufacturer and distributor said the backdrop to its half-year ended December 31 remained "challenging", with a resurgence in coronavirus infections and subsequent lockdown restrictions across most its markets.
"Nevertheless, the normal course of business has evolved and we continue to trade at normal levels through the various national lockdowns, but it has been hard work," the company said.
The cost and availability of international freight towards the end of the period has also been a "major issue", and there has been upwards pressure on raw material costs.
James Halstead said that encouraging trading turnover-wise for the first four months of the financial year continued through November and December. Turnover has been "solid", the company said, and it expects to report interim pretax profit in line with last year's "record" level.
For the six months to the end of 2019, James Halstead reported pretax profit of GBP25.2 million on revenue of GBP130.4 million.
Shares in James Halstead were up 1.8% at 503.92 pence in London on Monday.
By Lucy Heming;Â [email protected]
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