REG - James Halstead PLC - Chairman’s Statement to the Annual General Meeting

James HalsteadAnnouncement

18/11/2021 07:00

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RNS Number : 5633S  James Halstead PLC  18 November 2021

18 November 2021

JAMES HALSTEAD PLC

(the "Group")

 

Chairman's Statement to the Annual General Meeting

 

 

James Halstead plc, the commercial flooring company, is holding its 106(th)
AGM today at 9.30 am at which the Chairman, Mr Anthony Wild, will make the
following statement:

"Firstly, it is with some regret that we are not holding our customary lunch
time meeting at which shareholders can meet the management of the group.
Unfortunately, at the time of planning the meeting our concerns over Covid-19
prevented this happening.

 

As is customary, I would like to give you an update on trading now that we are
four months into the current financial year.

 

I would precede these comments by noting that today's AGM will approve a
record 11p final dividend (last year 10p) to be paid 17 December 2021.

 

Over the last year and in recent weeks the Group's supply chain has shown
significant resilience and supply shortages have been well managed, though
some cost increases have had to be absorbed in the short term as there is an
inevitable delay in passing on increases to our stockists and to the projects
that we have quoted for.  Nevertheless, we have already passed on some
increases.  Since the year end, 30 June, we have generally experienced less
disruption to our manufacturing workforce, with consequent operational
efficiencies, increased productivity and greater factory output. In addition,
there is increasing evidence of a return to normal levels of repair and
renewal in the leisure and hospitality sectors which, for us, have suffered
greatly over the last eighteen months. The situation continues to offer
challenges and frustrations and it is still difficult to say that the
adversities are behind us.

 

Notwithstanding the foregoing comments, these short-term external challenges
facing the business have no effect on the ongoing execution of the Group's
strategy and the growth of our businesses around the world. Our stockists,
sales representatives and many agents are taking increasing orders and we are
shipping goods in a more positive environment than we have experienced for
some time. Sales for the first 4 months of the new trading year are ahead of
the comparative for last year."

 

- Ends -

 Enquiries:

 James Halstead:                             Telephone: 0161 767 2500
 Mark Halstead, Chief Executive
 Gordon Oliver, Finance Director

 Hudson Sandler:
 Nick Lyon                                   Telephone: 020 7796 4133
 Nick Moore

 Panmure Gordon (NOMAD & Joint Broker):
 Dominic Morley                              Telephone: 020 7886 2500

 WH Ireland (Joint Broker):
 Ben Thorne                                  Telephone: 0207 220 1666

 

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