LONDON (ShareCast) - Flooring manufacturer James Halstead said its interim figures showed a record performance with UK and international sales offsetting increases in raw material and energy costs.
Pre-tax profit for the first six months of the year increased to a record £13.1m, an increase of 16.2%. Turnover increased to a record £78.5m from £68.3m, which was also helped by the lower value of sterling.
The group said cash flows from operations continue to strengthen the balance sheet.
“It has been a good six months' trading. Our ranges have been specified for a host of new build projects and refurbishments with the latter, as ever, the much larger part of all our businesses,” said chairman Geoffrey Halstead.
“Additional launches of safety flooring are at an advanced stage and I am fully confident that in the second half we will see the benefit of these new ranges and that we shall, once again, report a full year of progress," it added.
Proposed interim dividend increased 19% to a record 6.25p per share.
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