High ceiling for James Halstead profits

International sales helped lift flooring firm James Halstead to record revenues in the half year to December 31st.

Trading over the first half produced revenues of £117.7m, an increase of 10.9% over the same period the year before.

Overseas sales increased by 15.2%. The growth in Germany was over 17% and France and Scandinavia were north of 25%.

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Growth in the UK was lower with a 3.5% uplift on 2010 and the UK proportion of total turnover now stands at 33%, although the firm points out total UK revenue is at a record.

Most of Halstead's work comes from commercial properties; recent contracts include the Royal London Hospital and Liverpool John Moores University.

Pre-tax profit up to December increased to £21.1m - an increase of 14.1% over 2010 while the dividend has been boosted by 11.1% to 5p.

News of the results had pushed the shares up 7% by 15:05. Since January the stock has risen 24.7%.

BS