James Halstead encouraged by H2 trading

Commercial flooring manufacturer James Halstead said on Wednesday that trading in the second half of its financial year had been "encouraging".

James Halstead stated that despite ongoing uncertainties in the global marketplace, it now expects to report both turnover and pre-tax profits at record levels.

The AIM-listed firm said that early indications in February that international freight was showing signs of improvement were short-lived, with the chaos of the closure of the Suez canal being matched by turmoil in China, leading to delays in the supply of goods and ongoing adverse shipping costs.

In the UK, JH said that the availability of basic raw materials had continued to "threaten smooth production", while self-isolating employees that had been exposed to Covid-19 also meant its Radcliffe production site had struggled to achieve full output "for many months".

As of 1210 BST, James Halstead shares were down 0.87% at 555.12p.