29th Sep 2015 07:10
LONDON (Alliance News) - Commercial flooring company James Halstead PLC on Tuesday said its pretax profit and revenue both increased in the year to the end of June and said it will raise its dividend payout to the highest in its century-long history.
The group said its pretax profit for the year was up to GBP44.2 million from GBP41.8 million a year earlier, as revenue ticked higher to GBP227.3 million from GBP223.5 million. The group said it performed well in the UK over the year, driven by strong operations from its factory in Teesside, though overall revenue growth was held back by the weakness of the euro, with constant currency revenue in Europe rising 5%.
The company said its Australian business improved following a tough couple of years, with constant currency revenue from this division up 15%.
Gross margins for the group were slightly higher year-on-year, despite competitive markets and the strength of sterling, primarily due to the operational performance of the Teesside factory, which has grown output steadily, helped by stable raw material prices.
The group said it will pay a final dividend of 7.858 pence per share, up from 7.0 pence a year earlier, giving it a total dividend of 11.0 pence, up from 10.0 pence and the highest in the company's 100 year history.
"Our business in life is not to get ahead of others but to get ahead of ourselves and in this, our 100th year, we have broken records for turnover, profit and dividend," said Chief Executive Mark Halstead.
By Sam Unsted; [email protected]; @SamUAtAlliance
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