James Halstead PLC - Manchester-based commercial flooring manufacturer and distributor - Retains a confident outlook ahead of its interim results for the six-months ended December 31. In early December, Chair Anthony Wild said that the company had been impacted by challenging energy and raw material costs, as well as a downturn in the availability of international shipping from the UK. However, Wild said that the company expects revenues to be around 8% to 9% ahead of the GBP149.6 million earned in the six months to December 2022. James Halstead has now reiterated this guidance, adding that profits are expected to be between 15% and 20% ahead of the same interim period for the 2022 financial year, in which it achieved GBP23.2 million in pretax profit.
James Halstead says that, despite softening sales in some European markets, expectations for the full year "remain positive", and it hopes to make "continued progress on dividend distributions". James Halstead will publish its half-year results for the period ended December 31 on March 27.
Current stock price: 202.45 pence each, up 0.2% in London on Wednesday morning.
12-month change: up 10%
By Hugh Cameron, Alliance News reporter
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James Halstead (JHD)