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1 Aug 2016 07:00
1 August 2016
Pre-Close Trading Statement
James Halstead plc, the commercial flooring manufacturer and distributor, is providing the following trading update ahead of its final results for the year to 30 June 2016.
In the Chairman's statement announced on 31 March 2016, it was reported that the first half year profit before tax was 7.5% ahead of the prior year comparative but early trading in the second half was challenging. Nevertheless, the Chairman expressed he had every expectation of continued progress in the second half year.
During the majority of the year Sterling traded at a higher level than the prior year presenting challenges to our overseas turnover, which is in excess of 60% of total turnover. Just before the year end, late in June this reversed drastically, which bodes well for the new financial year.
Trading through to 30 June 2016 has been solid and profit before tax for the full year will be ahead of last year, in line with market expectations and at the highest level in the Company's history.
Enquiries:
| |
Mark Halstead, Chief Executive | |
Gordon Oliver, Finance Director | Telephone: 0161 767 2500 |
Nick Lyon - Hudson Sandler | Telephone: 020 7796 4133 |
Ben Thorne, Andrew Potts - Panmure Gordon (Nomad and Joint Broker) | Telephone: 020 7886 2500
|
Chris Hardie - Arden Partners (Joint Broker) | Telephone: 020 7614 5900 |
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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