(Alliance News) - Flooring products distributor James Halstead PLC on Thursday said it expects "record" full-year revenue, with its UK segment contributing a "creditable performance" despite tough market conditions.
The company reported that "encouraging" trading reported earlier in the interim period, continued for the whole of the six months to December 31.
James Halstead also hailed the global reach of its trading, citing "interesting" supply deals, including one at the Hobbiton tourist resort in New Zealand, where large portions of the Lord of the Rings film series and subsequent The Hobbit prequel were filmed.
In the UK, where revenue is expected to climb 6.8% in the half, the company has supply deals with NHS and Agent Provocateur, a lingerie retailer.
On its UK arm, James Halstead said: "Underlying margins held up but in the period July through to September there were adverse manufacturing variances and incremental labour costs associated with extended shifts/overtime subsequent to a significant engineering breakdown. Notwithstanding this adversity the company expects to report record pre-tax profit for the half-year."
The company will report its interim numbers on March 31.
Shares in James Halstead were down 0.4% at 562.00 pence each in London on Thursday morning.
By Eric Cunha; ericcunha@alliancenews.com
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James Halstead (JHD)