31st Jul 2014 07:00
31 July 2014
JAMES HALSTEAD PLC
Pre-Close Trading Statement
James Halstead plc, the commercial flooring manufacturer and distributor, is providing the following trade update ahead of its final results for the year to 30 June 2014.
In the Chairman's statement announced on 31 March 2014, it was reported that the first half year had been challenging with turnover only 1.7% ahead of the prior year comparative but that there were improved sales in the period January - March. This stronger period of trading has continued through April - June and though there has been a strengthening of Sterling this has not impacted on margins due to offsetting factors (principally raw material costs). Inevitably, the strength of Sterling will affect the translation of overseas profits.
In conclusion, as a result of improved trading conditions it is expected that profit before tax for the full year will exceed last year.
Cash balances remain healthy and dividend expectations will be met for a 38th year of increased dividends.
Enquiries:
| |
Mark Halstead, Chief Executive | |
Gordon Oliver, Finance Director | Telephone: 0161 767 2500 |
Michael Sandler - Hudson Sandler | Telephone: 020 7796 4133 |
Paul Chamberlain - Altium Capital | Telephone: 020 7484 4040
|
Chris Hardie - Arden Partners | Telephone: 020 7614 5900 |
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