Shares in James Halstead fall following trading update

Shares in AIM-listed flooring company James Halstead fell 5.75 per cent to 598p on Friday afteroon following a trading update published ahead of its annual general meeting.

Shares in AIM-listed flooring company James Halstead fell 5.75 per cent to 598p on Friday afteroon following a trading update published ahead of its annual general meeting.

Geoffrey Halstead, Chairman of the company, gave an update on trading five months into the company's current financial year, revealing that business in some overseas territories were trading below levels seen last year.

Advertisement - Article continues below

Some large infrastructure projects were progressing at a slower pace with frequent delays, however flooring sales levels were ahead of last year's, he said.

Halstead said: "In the UK, the general economic climate continues to be challenging but I can report that for the five months of the current year our flooring sales are ahead of last year.

"The greater part of our business trades globally and overseas we continue to achieve record sales in some key territories whilst others, most notably Australia, are trading below last year. It is apparent in several markets that large infrastructure projects are progressing but at a slower pace and with frequent delays.

Notwithstanding the above, owing to the combined benefits of softer raw material prices and a bias of sales toward higher value and margin product we are on track to surpass the comparative profit of last half year."

He added: "I stress that market conditions are difficult and though we have grown over the last few years in difficult conditions this year will, in our view, continue to be tough".

The AIM-listed company has a market capitalisation of £604.45m.




Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular


House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020

How can markets hit new record highs when the economy is in such a mess?

Despite the world being in the midst of a global pandemic, America's Nasdaq stock index just hit an all-time high. And it's not the only index on a bu…
3 Jul 2020

The end of the bond bull market and the return of inflation

Central bank stimulus, surging post-lockdown demand and the end of the 40-year bond bull market. It all points to inflation, says John Stepek. Here’s …
30 Jun 2020