James Halstead PLC Pre-Close Trading Statement (1051H)
30 July 2019 - 4:00PM
UK Regulatory
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RNS Number : 1051H
James Halstead PLC
30 July 2019
30 July 2019
Pre-Close Trading Statement
James Halstead plc, the commercial flooring manufacturer and
distributor, is providing the following trading update ahead of its
final results for the year ended 30 June 2019.
We are pleased to report that sales for the year were ahead of
the comparative year and at a record level. This, we feel,
represents a creditable performance in still difficult trading
conditions. Flooring installations through the year were wide
ranging such as Harrow School, Euro Disney's Hotel New York and
Chanel concessions across the globe and the Al Thumama Stadium in
Qatar. Our healthcare business continues to make good progress and
projects completed included Poissy Hospital in France and the newly
built Quillota Hospital in Chile. It is particularly pleasing to
report that our UK turnover (representing about 35% of total sales)
is ahead of the prior year, by some 7%, in a market that seems to
be quite robust despite the well reported high street retailer
issues.
Across many regions, but especially in Europe competition is
ever increasing with new entrants peddling an increasing array of
flooring of various degrees of quality and availability. In the
German market we have maintained market share but turnover was at a
lower level. There are markets with double digit growth and France,
South America and Holland are examples. We remain confident that
our investment in marketing, sampling, sales representation and
training / technical support continue to differentiate us from the
pack.
Raw material prices are stable and the availability problems of
last year have ameliorated and working capital remains robustly
managed with our cash generation secure. Our long term focus on
delivery of shareholder returns is undiminished.
Our profit for the year has grown and will be at a record level,
representing modest growth.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Enquiries:
James Halstead plc Telephone: 0161 767 2500
Mark Halstead, Chief Executive
Gordon Oliver, Finance Director
Hudson Sandler Telephone: 020 7796 4133
Nick Lyon
Nick Moore
Panmure Gordon (Nominated advisor and broker) Telephone: 020 7886 2500
Ben Thorne
Dominic Morley
Arden Partners (Broker) Telephone: 020 7614 5900
Tom Price
Matthew Groves
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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