TIDMJHD

RNS Number : 0200W

James Halstead PLC

06 December 2019

6 December 2019

JAMES HALSTEAD PLC

Chairman's Statement to the Annual General Meeting

James Halstead plc, the commercial flooring company, is holding its 104(th) AGM today at 12 noon at which the Chairman, Mr Anthony Wild, will make the following statement:

"As is customary, I would like to give you an update on trading now that we are five months into the current financial year.

Firstly, I am pleased to announce we have continued our long record of increased dividend payments with the proposed final dividend of 10p being paid today. Our cash balances remain robust although the new rules on accelerated quarterly UK corporation tax payments, with six instalments in the financial year, will mean a one-time effect of some GBP4 million.

I would also like to make note that it's the 25(th) anniversary of the introduction of the Expona brand to our businesses and since then we have sold over 65 million square metres of this luxury vinyl tile.

The trading environment in the UK is challenging and across all markets large projects are keenly contested by all manufacturers. Nevertheless, trading is ahead of last year and I can report that amongst the projects we have supplied are installations as diverse as Pizza Pino on the Champs-Elysées in Paris, the RNZAF air base in Ohakea, New Zealand and the Thon Hotel in Gardermoen, Norway.

It was noted in our Annual Results, announced on 1 October 2019, that we had in the first three months seen solid progress, particularly in the UK. At this time, some five months into the trading year, we have continued to see modest growth in turnover and profit."

- Ends -

 
 Enquiries: 
 James Halstead:                             Telephone: 0161 767 2500 
 Mark Halstead, Chief Executive 
 Gordon Oliver, Finance Director 
 
 Hudson Sandler:                             Telephone: 020 7796 4133 
 Nick Lyon / Nick Moore 
 
 Panmure Gordon (Nomad and Joint Brokers):   Telephone: 020 7886 2500 
 Dominic Morley 
 
 Arden (Joint Broker):                       Telephone: 020 7614 5900 
 Andrew Simms

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END

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December 06, 2019 03:30 ET (08:30 GMT)

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