Benjamin Chiou Sharecast News
31 Jan, 2025 09:00 31 Jan, 2025 09:00

James Halstead's first-half sales fall UK market remains subdued

dl james halstead aim commercial flooring manufacturer supplier logo
James HalsteadSharecast graphic / Josh White

James Halstead

159.50p

17:15 27/02/25
-2.45%
-4.00p

James Halstead said it expects to hit market forecasts with its full-year forecasts, though increased confidence in international markets has been offset by subdued activity in its core UK market.

Construction & Materials

11,370.08

17:14 27/02/25
-2.02%
-233.85

FTSE AIM 100

3,410.68

16:54 27/02/25
n/a
n/a

FTSE AIM 50

3,730.71

16:54 27/02/25
n/a
n/a

FTSE AIM All-Share

707.72

16:54 27/02/25
n/a
n/a

In a first-half trading update for the six months to 31 December, the company said that sales were slightly below last year with pre-tax profits comparable the year before.

Market conditions in the resilient sheet flooring markets, sold into the healthcare, education and other institutional sectors, have improved, with regional sales in the Middle East and the Americas "particularly buoyant".

However, UK sales were flat year-on-year with customers said to be revising their capital spend or deferring renewals, while distributors have been destocking.

"The company has experienced more caution following the incoming government's first budget and the subsequent changes to living wage and national insurance," James Halstead said.

Shares were down 1% at 172.75p by 0900 GMT.

contador