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1 Jul 2008 07:00
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1 July 2008
James Halstead plc
Trading updateΒ
James Halstead plc, the commercial flooring manufacturer and distributor based inΒ Manchester,Β is pleased to provide the following update on trading.
Since our interim results were published on 31 March 2008Β goodΒ progress has continuedΒ to be made and, as a result, profitsΒ for the year to 30 June 2008Β will beΒ materially ahead of market expectations.
Growth in ourΒ home market has continuedΒ at the levels seen in the first six monthsΒ ofΒ trading, most notably in the refurbishment market,Β notwithstandingΒ the widely reported problems associated with the commercial property sector.Β European markets haveΒ madeΒ further progress with the German market in particularΒ putting in a strong trading performance. Our AustralianΒ subsidiaryΒ isΒ alsoΒ trading at record levelsΒ 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. TheΒ ManchesterΒ factory has seen inevitable margin erosion on some product lines but overallΒ theΒ product mix and the continued outsourcingΒ programmeΒ haveΒ enabled us to manageΒ these pressuresΒ effectively.Β
Enquiries:
|
James Halstead |
0161 767 2500 |
|
Gordon Oliver, Finance Director |
|
|
HudsonΒ Sandler |
020 7796 4133 |
|
Nick Lyon |
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