James Halstead delivers 'improved' YTD output and profits

Commercial floor coverings group James Halstead said on Friday that it had experienced "improved output and profits" year-to-date.

James Halstead stated that in the first five months trading of the current financial year, it has seen both output and profits that were "materially ahead" of comparatives, despite its major markets facing "strong competition",

The London-listed group said t was "confident" of achieving full-year market expectations of improved bottom-line results and exceeding interim comparatives, as well as extending its track record of increased dividends.

Cash levels were also said to be materially ahead of prior-year comparatives for the five months.

"Today we will approve our final dividend of 5.75p per ordinary share - yet another record dividend which marks the 47th year of increase," said chairman Anthony Wild. "I and the board remain positive about the medium-term prospects for the group as a whole."

As of 0935 GMT, James Halstead shares were up 4.55% at 207.0p.

Reporting by Iain Gilbert at Sharecast.com