Trading Update
Summary by AI BETAClose X
22 July 2026
JAMES HALSTEAD PLC
("James Halstead" or the "Company")
Trading Update
James Halstead plc, the AIM listed manufacturer and international distributor of floor coverings, is providing the following trading update ahead of its results for the year ended 30 June 2026.
The Company sells, for the most part, commercial flooring across the world and has seen continued confidence in the segment of resilient sheet flooring but has experienced headwinds against sales of luxury vinyl tile (LVT) principally in Europe and Australia. The Company has, however, successfully managed to grow its market share in the UK.
The impact on input costs of the Iran conflict was sudden and led to many suppliers immediately initiating surcharges. As a manufacturer with many end contractors committed to projects, we felt this was a situation to absorb some of this cost and to buffer the effects to the end contractors, at least for the short term. Although much of our business is via distribution our connections to end projects are strong, especially overseas, and in markets that already have fragile demand for refurbishment we felt this was the responsible course of action. Furthermore, James Halstead carries significant stock and with many competitors not as well placed, we saw it as an opportunity to take some extra volume as those competitors raised prices.
Sales in the UK, our largest market, have increased compared to the prior financial year - though modestly. The UK market is particularly focused on repair and refurbishment in education, healthcare and hospitality and the budgets of many end users have been under pressure with backlogs. On the positive side sales in the UK in June were very strong which, in part, reflects confidence in the summer holiday refurbishment albeit management acknowledge this level of sales was also driven by purchases in advance of price increases in July.
Notwithstanding this backdrop and solid UK performance, activity in Europe, particularly in France and the Netherlands, remained solid but muted. We have consolidated on first half successes in North America and in the Middle East some 54% ahead of comparatives and in South Africa some 25% ahead of comparatives.
Operationally, once again in the latter three months of the financial year there has been disruption to global trade routes and shipping movements, but these have been to a much lesser degree than first envisaged and it was pleasing to note that significant additional business was delivered into the Middle East market despite the challenges.
In summary, the Company anticipates that sales will be marginally below the 2025 comparative with profit approximately 10-15% below that of last year. Cash generation alongside reserves continue to underpin an ungeared balance sheet, which remains strong.
The Board is confident that the medium-term prospects remain solid despite the recent external challenges and side winds.
The Company expects to announce its results for the year ended 30 June 2026 towards the end of September 2026.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.
|
Enquiries: |
|
|
|
|
|
James Halstead plc |
Tel: 0161 767 2500 |
|
Mark Halstead, Executive Chairman |
|
|
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 |
|
Edward Mansfield / Tom Scrivens |
|
|
|
|
|
Zeus (Joint Broker) Ben Thorne / Fraser Marshall
|
Tel: 020 3829 5000 |
NOTES TO EDITORS
James Halstead (LSE: JHD) is a UK manufacturer and global supplier of flooring for commercial and domestic purposes. It distributes their manufactured and sourced products from operations across the United Kingdom, Europe, Scandinavia, Australasia, North America and Asia, and exports directly to almost every country around the world.
The Company's brands include Polyflor, Palettone, Camaro, Karndean (Europe), Polysafe, Recofloor and Expona. James Halstead's strategy is to constantly develop its brand identity and its reputation for quality, product innovation, durability and availability, thereby enhancing and maintaining goodwill with the aim of achieving repeat business.
Over many years, the Company has adopted a policy of continual investment in both process improvement and product development to improve output efficiency and its product offering.
The Company was founded in 1915 and is headquartered in Bury, UK. It listed on the London Stock Exchange in 1948.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 9 hours ago Johnson Matthey
- 10 hours ago Galliford Try
- 10 hours ago Galliford Try
- 10 hours ago Centrica
- 11 hours ago Smith & Nephew