James Halstead PLC - Flooring products manufacturer - UK business, which reflects 30% to 35% of revenue, faced significant disruption, due to almost all customers being distributors were closed through April and into May. As a result, UK revenue for the two months dropped by 65% year-on-year. Direct exports decline range between 5% and 10%. Overall turnover for fourth quarter ended June 30 averaged 70% of year before, while pretax profit was under 50% of prior year level. Improved trading seen in July, enough to declare second interim dividend of 2.125p.
Current stock price: 513.22 pence
Year-to-date change: down 5.5%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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James Halstead (JHD)