TIDMJHD

RNS Number : 0995D

James Halstead PLC

29 January 2018

29 January 2018

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 2017.

Turnover has increased by 5%, boosted by a strong December, and profit is in line with expectations and in excess of the comparative half-year. Having achieved revenue increases in the majority of our key markets, including Germany, the UK and Australasia, this has resulted in a record level of turnover in the half year.

In his AGM trading update, on 1 December 2017, Mr. Geoffrey Halstead noted that trading to date had been in line with our budgets albeit against competitive headwinds. In particular, the central European markets (the principal of which is Germany) have been very competitive with very keen pricing. However, in early January a German manufacturer entered administration and announced the closure of its sheet vinyl and tile facility. This closure is expected to take place imminently and this should ameliorate the pricing pressures we have been experiencing.

Product development continues and we have refreshed some of our key ranges and presented them to the trade in recent weeks. Given the positive feedback, our confidence for the full year is unchanged and remains positive.

 
 Enquiries: 
 
 James Halstead plc         Tel: 016 
                           1767 2500 
 Mark Halstead, Chief 
  Executive 
 Gordon Oliver, Finance 
  Director 
 
 Hudson Sandler             Tel: 020 
                           7796 4133 
 Nick Lyon 
 
 Panmure Gordon (Nomad      Tel: 020 
  and Joint Broker)        7886 2500 
 Ben Thorne 
  Andrew Potts 
 
 Arden Partners (Joint      Tel: 020 
  Broker)                  7614 5900 
  Chris Hardie

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTEQLFLVFFBBBE

(END) Dow Jones Newswires

January 29, 2018 02:00 ET (07:00 GMT)

James Halstead (LSE:JHD)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more James Halstead Charts.
James Halstead (LSE:JHD)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more James Halstead Charts.