Last checked at (Sharecast News) - Commercial flooring manufacturer James Halstead said on Wednesday that trading in the second half of its financial year had been "encouraging".
James Halstead stated that despite ongoing uncertainties in the global marketplace, it now expects to report both turnover and pre-tax profits at record levels.
The AIM-listed firm said that early indications in February that international freight was showing signs of improvement were short-lived, with the chaos of the closure of the Suez canal being matched by turmoil in China, leading to delays in the supply of goods and ongoing adverse shipping costs.
In the UK, JH said that the availability of basic raw materials had continued to "threaten smooth production", while self-isolating employees that had been exposed to Covid-19 also meant its Radcliffe production site had struggled to achieve full output "for many months".
As of 1210 BST, James Halstead shares were down 0.87% at 555.12p.
23 Jul 2010 08:10
Halstead wary on raw material costs
Floorings specialist James Halstead expects to hit market expectations this year, but warned of sharp rises in raw material costs, especially plastics and polymers where there are also supply problems. "Although we are pleased with the progress made in sales growth, we are experiencing raw material
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