Last checked at 1 Jul 2008 07:00
1 July 2008
James Halstead plc
Trading update
James Halstead plc, the commercial flooring manufacturer and distributor based in Manchester, is pleased to provide the following update on trading.
Since our interim results were published on 31 March 2008 good progress has continued to be made and, as a result, profits for the year to 30 June 2008 will be materially ahead of market expectations.
Growth in our home market has continued at the levels seen in the first six months of trading, most notably in the refurbishment market, notwithstanding the widely reported problems associated with the commercial property sector. European markets have made further progress with the German market in particular putting in a strong trading performance. Our Australian subsidiary is also trading at record levels and other export markets have continued to expand.
Though energy costs and raw materials remain of concern and market price competition is fierce the Group remains confident, but nevertheless vigilant and cautious, in this period of economic uncertainty. The Manchester factory has seen inevitable margin erosion on some product lines but overall the product mix and the continued outsourcing programme have enabled us to manage these pressures effectively.
Enquiries:
| James Halstead | 0161 767 2500 |
| Gordon Oliver, Finance Director | |
| Hudson Sandler | 020 7796 4133 |
| Nick Lyon |