REG - James Halstead PLC - Trading Update

James HalsteadAnnouncement

01/02/2022 07:00

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RNS Number : 2116A  James Halstead PLC  01 February 2022

 

 

1 February 2022

 

JAMES HALSTEAD PLC

(the "Company")

Trading Update

James Halstead plc, the commercial flooring manufacturer and distributor, is
providing the following trading update ahead of its interim results for the
half-year to 31 December 2021.

 

The backdrop to manufacturing remained challenging with the resurgence of the
Covid-19 virus disrupting manning levels and the widely reported delays and
increased costs of international freight. In addition, raw material
availability has continued to be restricted and costs increased. Nevertheless,
sales demand has continued to be strong with projects installed as diverse as
the Tracey Emin Art Centre in Margate, the cruise ship MV Aurora and the newly
renovated "La Samaritaine" department store in Paris.

 

In his AGM statement, on 18 November 2021, the Chairman, Mr. Anthony Wild,
noted these challenges and it is pleasing to report that sales in December
were robust (particularly in the UK) - and turnover for the six months will be
higher than last year.

 

Given the increased costs of materials, freight and energy that have prevailed
and the inevitable time lag in reflecting these costs in prices it is to be
expected that profit has been affected in the first six months results to a
marginal extent. That said, our balance sheet strength continues to underpin
our business, and the Board's expectations for the current year remain
positive.

 

The interim results will be published on 31 March 2022.

 

 Enquiries:

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

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

 Panmure Gordon (Nomad and Joint Broker)    Tel: 020 7886 2500
 Dominic Morley

 WH Ireland (Joint Broker)                  Tel: 020 7220 1666

 Ben Thorne / Chris Hardie

 

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