James Halstead PLC on Wednesday said it is ‘fully confident’ it will exceed prior year comparatives for annual pretax profit, cash levels and dividend due to improved profitability across the company.
James Halstead is a commercial flooring manufacturer and distributor based in Manchester, England.
James Halstead reported strong sales in the Middle East and the Americas for the year that ended June 30. However, it said the performances of some products have been weaker in the UK and Europe.
While James Halstead said it made gains on lower raw material pricing, energy costs, especially electricity, remained high.
Additionally, the firm noted lengthened delivery times and increased costs across the sector due to disruption to shipping in the Red Sea.
James Halstead shares were up 6.0% to 182.80 pence each in London on Wednesday morning.
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