Pre Close Trading Statement
Updated : 07:02
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 |
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.