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James Halstead PLC (JHD)

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Wednesday 30 January, 2019

James Halstead PLC

Pre Close Trading Statement

RNS Number : 4413O
James Halstead PLC
30 January 2019
 

 

 

30 January 2019

 

JAMES HALSTEAD PLC

Pre Close Trading Statement


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 2018.

 

In his AGM trading update, on 7 December 2018, the chairman Mr. Anthony Wild noted that trading to date had been encouraging in terms of turnover and profit for the first five months. The month of December was disappointing and broke with the trend of increases of the previous months. The reduction in this month was impacted by the UK and relates in part to fewer trading days and, we believe, year-end stock reductions by UK distributors. Trading in January is ahead of the comparative period.

 

In addition, we have seen margin improvement and profit for the half year will be at a record level. We also note that the Group cash balances have increased even after outlays of some £20 million on dividend paid in December 2018 and tax payments of £5 million.

 

Our confidence in full year progress continues and our ability to continue with strong dividend growth enhanced.

 

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

Ben Thorne / Dominic Morley




Arden Partners (Joint Broker)        

Andrew Simms

Tel: 020 7614 5900

 


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