Record results for Halstead
Industrial flooring group James Halstead has announced yet another record profit.
Industrial flooring group James Halstead (LSE: JHD) has announced yet another record profit. It is the largest company on Aim and superficially the dullest, making vinyl flooring in Manchester for schools, hospitals and trains. But it's far more interesting than it sounds. Halstead is one of the most consistently profitable companies on the market. Its size means it could happily slot into the FTSE 250. But for tax reasons, it has remained on Aim. It also has a global reach its flooring covers everything from the Kremlin conference centre to Indian submarines and oil rigs in the Gulf.
The Halstead family owns 40% of the shares. The company is debt -free and its gross margins barely ever budge from 41%. Sales growth has been steady and returns astronomical 18% compound growth every year for the last decade. And that is before dividends, which have risen every year for 40 years, hitting a fresh high in the latest set of results. It's one to buy and hold.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
Zoopla: House prices slows to 1.4% in May as rate of sales at four year high
The average UK property now costs £268,400, Zoopla says, but some areas of the country are experiencing much higher price growth than others.
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for you
Consumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator
-
James Halstead is a family firm going cheap but should you buy?
James Halstead will rebound from a weak patch, while tax changes would be a buying opportunity
-
James Halstead to buy back shares
News Flooring manufacturer James Halstead plans to buy back 2.5% of its shares in order to return £11m to its investors.