UK's James Halstead gains on upbeat business update

James Halstead

02/02/2023 13:40

** Shares of James Halstead Plc  JHD.L  climb as much as 5%
to 193p
    ** Commercial flooring maker forecasts 8%-9% y-o-y rise in
revenue for the six months ended Dec. 31
    ** Says it saw signs of lower international freight
and raw material costs in December
    ** Says none of its European raw material suppliers had
faced production interruption due to energy shortage experienced
for most of 2022
    ** Says was able to significantly reduce stock levels since
end of the last FY and this had a positive impact on its balance
sheet
    ** Including session's gains, stock up 4% YTD, after losing
over 34% in 2022
 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))