Halstead continues to floor the opposition

FLOORCOVERINGS manufacturer James Halstead has said that sales in the six months to December 31 were boosted significantly by increased exports.

In a pre-close trading update released this morning, the Radcliffe-based company said that turnover was likely to be 14% ahead of last year, with sales to Europe and Australia identified as being particularly strong.

The company added that although raw material prices continue to rise, its increased sales means that it is on course to announce record interim profits when it reveals results for the first six months’ trading in March.

Halstead has also recently upgraded its production facility and said that it has made progress in broadening the base of products manufactured. It said that its cash balance remains above £30m, despite paying £9.7m out in dividends and £8m on capital expenditure.

“Given all these factors we continue to be confident that the full year results will build on this position,” the company said.