3rd Feb 2014 10:49
LONDON (Alliance News) - Flooring manufacturer James Halstead PLC Monday said it had performed badly in December, but it still expects its pretax profit for the first half of its financial year to be in line with forecasts and up to 4% below last year's figure.
In December, the company had reported a modest rise in revenues but had cautioned that December was always unpredictable.
"In the event December was not a good month with many of our major markets trading below the same month the previous year against a trend of consistent positive results," the company said in a statement Monday.
Despite this, it said revenues for the six months to end-December was up 2% on the year-earlier period. However, pretax profit is expected to be about 3% to 4% below the figure it reported last year, meeting market expectations.
Last year, the company's interim pretax profit rose 2.2% to a record GBP21.6 million. Its revenues fell to GBP109.0 million, from GBP117.7 million.
James Halstead shares were down 3.4% at 316.75 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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