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(Alliance News) - James Halstead PLC on Tuesday said it has recorded growth across all of its operating regions, but reduced its interim dividend amid Covid-19 uncertainty.
The flooring products manufacturer said its pretax profit in the six months to the end of 2019 grew by 2.8% to GBP25.2 million from GBP24.5 million, as revenue increased by 3.7% to GBP130.4 million from GBP125.8 million.
The company noted that it has performed well given the fragile state of many markets.
In the UK, James Halstead sales were 7% ahead of the prior year, while sales in France grew by 6%.
Objectflor, based in Germany and serving Central Europe, reported sales growth of some 2.3% though encountered margin erosion as a result of exchange rates. The Netherlands has had a difficult few months with the restrictions on construction as a result of their government's actions to tackle nitrogen emissions, the company explained.
North America has been very positive with over 22% growth in the six months.
James Haldtead declared an interim dividend of 2.125 pence per share, down from 4.00p paid a year ago.
Looking ahead, Chief Executive Mark Halstead said: "The focus of our business has moved to our expertise in healthcare as the immediate need in many of our markets for flooring is in this sector."
AIM-listed James Halstead shares were trading 0.9% higher in London on Tuesday at 467.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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