Last checked at 10 Dec 2008 07:00
10 December 2008
James Halstead plc
Chairman's Statement to the Annual General Meeting
James Halstead plc, the commercial flooring company, will hold its AGM today at 12.00 noon at which the Chairman, Mr Geoffrey Halstead, will make the following statement:
"As is customary at the AGM I would like to give shareholders an update on the Group's trading now that we are 5 months into the current trading year.
I can report that the rate of sales is ahead of last year and that we have seen some, as yet modest, softening of raw material prices. Energy costs remain high though there are signs that future decreases are likely. The sales growth is both in our export markets and in the UK with the refurbishment market and government related projects remaining robust. The weakness of sterling has generally benefited our export margins though there are significant localised offsets from imported materials and finished products. Naturally we are aware of the general economic environment but believe each of the factors I have mentioned allow us to weather any challenges.
As far as the current position is concerned I can only be satisfied with progress and I fully expect to announce an increased dividend at the interim stage, setting yet another record."
Enquiries :
| James Halstead | 0161 767 2500 |
| Gordon Oliver, Finance Director | |
| Hudson Sandler | 020 7796 4133 |
| Nick Lyon |