Halstead predicts record profits

FLOORING manufacturer James Halstead has said that turnover for the six months to December 31, 2011, is around 10% higher than in the previous year.

The firm said that sales in UK markets were better than in 2010 and that its export turnover “continues to show good growth”.

It added that pace of growth in raw materials had slowed in the first quarter, and even showed signs of “a degree of reduction in the final three months of 2011. Cash reserves have also improved, despite share buybacks and dividend payments being made.

Chief executive Mark Halstead said: “Our commercial flooring portfolio continues to stand us in good stead globally and it is pleasing to say that the UK market continues to perform well in challenging times.

“I have no doubt that we will, yet again, report record profits at the interim stage.”