James Halstead confident going forward despite Brexit concerns
Commercial flooring company James Halstead confirmed it was continuing its long record of increased dividend payments on Friday, as investors gathered for the annual general meeting.
The AIM-traded firm said the proposed final dividend of 9.65p was being paid on Friday alongside continued growth in its cash balances.
Chairman Anthony Wild told shareholders that while there was “much speculation” on the future trading relationship of the UK with Europe, the company’s trading was global.
“”e, as a Board, are confident of growth but mindful of potential short term issues,” Wild said.
“Our robust balance sheet and strong cash flows are undoubtedly key strengths.”
He pointed out that in its annual results on 25 September, James Halstead had several new ranges launched into the market place in recent months.
“Following a £2m investment in Palettone, our design led homogeneous vinyl sheet collection, I am pleased to report that customer interest has already exceeded our expectations and examples of installations are the Charité Universitätsmedizin, Berlin and the Théâtre du Petit Saint Martin on Rue René Boulanger, Paris.
“In addition, Polysafe Verona Pure Colour - our dementia friendly flooring - has been installed in Marymount Nursing home in Dublin.”
Wild said trading in the first five months of the year had been “encouraging”, with the firm trading ahead of last year in terms of turnover and profits.
“I am confident in the prospects of the company, and more importantly I remain confident of maintaining our impressive record of dividend growth.”