James Halstead plc Pre-close Trading Statement

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 2011.

James Halstead will announce these results on 29 March 2012.

The confidence expressed by the Chairman, Mr Geoffrey Halstead, at the Annual General Meeting, held on 2 December 2010, was well founded. In these challenging times, turnover has continued to grow and, in line with our expectations, will be higher than the comparative period.

Export turnover continues to show good growth and our UK turnover is also ahead of last year. In total sales are around 10% ahead of the comparative prior period.

The first quarter showed a slow down in the rate of increase of raw material prices and a degree of reduction in the second quarter.

In addition, cash reserves have increased since 30 June 2011, even though we have paid dividends and undertaken a share buy back exercise.

Commenting Mr Mark Halstead said: "Our commercial flooring portfolio continues to stand us in good stead globally and it is pleasing to say that the UK market continues to perform well in challenging times. I have no doubt that we will, yet again, report record profits at the interim stage."

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