Last checked at 27 Nov 2015 12:00
27 November 2015
JAMES HALSTEAD PLC
Chairman's Statement to the Annual General Meeting
James Halstead plc, the commercial flooring company, is holding its 100th AGM today at 12.00 noon at which the Chairman, Mr Geoffrey Halstead, will make the following statement:
As is customary, I would like to give you an update on trading now that we are five months into the current financial year.
It is gratifying to report that at this, our 100th AGM, trading for the year so far is in line with our budgets. In my report on the results for the year ended 30 June 2015 I noted growth in turnover both in the UK and in our overseas markets but also the effects of the strength of sterling on exports. At this point turnover on a constant currency basis is ahead of the comparative year but on a par on a reported basis owing to the effects of exchange rates on translation, with profits ahead of last year.
I believe our first half results will be in line with management expectations.
Our cash balances continue to be solid underpinning the 7.858p dividend proposed to be paid in one week's time (4 December 2015) - an increase of 12.26% on that of last year. This marks the 40th year of increase.
Having regard to our continuing strength of our balance sheet and to mark this milestone in our history I am pleased to announce that the Board are declaring a special dividend equal to 100% of the final dividend i.e. 7.858p per ordinary share. The special dividend will be payable on 26 February 2016 to those shareholders on the register at the close of business on 18 December 2015.
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Enquiries:
| |
James Halstead: | Telephone: 0161 767 2500 |
Mark Halstead, Chief Executive | |
Gordon Oliver, Finance Director | |
Hudson Sandler: | Telephone: 020 7796 4133 |
Nick Lyon | |
Panmure Gordon (Nomad and Joint Brokers): | Telephone: 020 7886 2500 |
Ben Thorne | |
Andrew Potts | |
Arden (Joint Broker): | Telephone: 020 7614 5900 |
Chris Hardie | |