REG - James Halstead PLC - Trading Update and Notice of Results

James HalsteadAnnouncement

31/01/2025 07:00

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RNS Number : 1677V  James Halstead PLC  31 January 2025

31 January 2025

 

 

JAMES HALSTEAD PLC

(the "Company")

 

Trading Update and Notice of Results

James Halstead plc, the commercial flooring manufacturer and international
distributor, is providing the following trading update ahead of its interim
results for the half year to 31 December 2024.

 

The Company sells, for the most part, commercial flooring across the world and
has seen increased confidence in the segment of resilient sheet flooring that
is sold into the healthcare, education and other institutional sectors.
Regional sales into the Middle East and the Americas have been particularly
buoyant.

 

Overall sales are slightly below last year with profit before tax comparable
to the level in H1 2024.

 

In the UK, the core home market, the Company has experienced more caution
following the incoming government's first budget and the subsequent changes to
living wage and national insurance. Our UK sales in the first six months are
in line with the comparative but have been constrained, in part, as a result
of lower confidence leading to customers revising their capital spend and
deferring renewal. Additionally, the six-month period has also seen a degree
of destocking in our UK distributor customers. Despite this, and given the
level of backlog of repairs and renewals in the health sector and education,
we can only be confident of prospects in the UK.

 

In overseas markets there are many positives in our broad reach of sales.
Whilst Australia and New Zealand sales have declined, turnover in the
Americas, the Middle East and Mediterranean is progressing.

 

The Company remains ungeared with cash levels broadly similar to the
comparative (2023: £ 62.4m) notwithstanding increased dividends and higher UK
corporation tax.

 

The Board's expectations for the full year are that profit before tax will be
in line with market expectations.

 

The Company expects to announce its results for the half-year ended 31
December 2024 on 31 March 2025.

 

 

 Enquiries:

 James Halstead plc                        Tel: 0161 767 2500
 Gordon Oliver, Chief Executive
 David Drillingcourt, Finance Director

 Hudson Sandler                            Tel: 020 7796 4133
 Nick Lyon / Nick Moore

 Panmure Liberum (Nomad and Joint Broker)  Tel: 020 7886 2500
 Edd Mansfield / Tom Scrivens

 Zeus  (Joint Broker)                      Tel: 020 3829 5000

 Ben Thorne / Fraser Marshall

 

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