Trading Update

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) 

Ben Thorne / Chris Hardie

 

Tel: 020 7220 1666

 

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