James Halstead H1 profits impacted by increased costs

Flooring manufacturer and distributor James Halstead said on Tuesday that interim profits had been affected "to a marginal extent" by the increased costs of materials, freight and energy.

James Halstead stated the backdrop to manufacturing remained challenging, with the resurgence of Covid-19 disrupting manning levels, in addition to delays, increased costs of international freight and raw material availability and increased prices.

However, the AIM-listed firm highlighted that sales demand had continued to be strong, with projects installed as diverse as the Tracey Emin Art Centre in Margate, the cruise ship MV Aurora and the newly renovated "La Samaritaine" department store in Paris.

Sales in December were said to have been "robust", particularly in the UK, while turnover for the six months ended 31 December was said to be higher than in 2020.

As of 0835 GMT, James Halstead shares were down 4.91% at 272.90p.