Pre-close Trading Statement

RNS Number : 7419W

James Halstead PLC

31 January 2013

 



31 January 2013

James Halstead plc

Pre-close Trading Statement

James Halstead plc, the international commercial flooring manufacturer and distributor, is providing the following trading update prior to entering the close period ahead of its interim results for the six months to 31 December 2012.

James Halstead will announce these results on 29 March 2013.

As noted in the overview given by the Chairman, Mr Geoffrey Halstead, at the AGM held on 7 December 2012, in the UK the general economic climate continues to be challenging and in some key overseas markets we are trading below last year.

Our UK turnover is ahead of last year but export turnover has been impacted by lower sales in Australia and the Middle East. In total, sales are around 7-8% below the comparative prior year period, although more than half of this is the result of foreign exchange translation and the cessation of the motorcycle accessories business (Phoenix).

Cash reserves have increased since 30 June 2012 with further improvements in stock reduction.

Commenting Mark Halstead, Chief Executive, said:

''As noted previously, market conditions remain difficult, indeed we have less visibility of pending and deferred contracts than in previous years.  Although we face challenges in some of our overseas markets I am pleased that the UK market continues to perform well. I am confident our market share is being maintained and remain confident that we are on track to report a modest increase in profits at the interim stage".

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Enquiries:

James Halstead plc	0161 767 2500
Mark Halstead, Chief Executive
Gordon Oliver, Finance Director
Hudson Sandler	020 7796 4133
Nick Lyon
Altium	020 7484 4040
Ben Thorne / Paul Chamberlain
Arden Partners
Chris Hardie	0207 614 5900

 

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