Halstead sets new records
FLOORCOVERINGS specialist James Halstead has a notched up another year of record sales and earnings.
The Radcliffe-based firm said pre-tax profits rose 11% to £42.7m in the year to June 30 on sales of £226.3m, up 6%.
The business admitted it was operating in a tough environment, with pricing set “ever keener” to achieve volume sales growth.
UK turnover rose 2.9% while overseas sales were up by 7.3%. “We have seen modest revenue growth in comparison to previous years, but I think this very commendable in the prevailing market conditions,” said chairman Geoffrey Halstead in his report.
Chief executive Mark Halstead said: “In a year when London was host to many new records I am pleased to report, yet again, record turnover and record profit; and I shall never tire of saying record dividends.”
The group benefited from building work associated with the various Olympic venues, and worked on the Winnipeg ‘Blue Bomber’ Stadium, the Marineland Aquarium and Leisure Park on the Cote d’Azur and the Wangaratta Hospital in Victoria, Australia.
During the year Halstead shut Phoenix Distribution, its motorcycle accessories, blaming tough trading.
