Halstead expects revenues to slip 4%

JAMES Halstead, which makes and supplies commercial flooring and exports internationally, says recent trading has been “solid”, although market conditions are tough.

In line with guidance the Radcliffe-based company gave in March, the company said it expects full year revenue to be around 4% down on 2012, although operating profits for the year to the end of June are expected to be in line with expectations

Analysts are expecting this figure to come in around £40m, down slightly on the 2012 record operating profit of £42.2m.

In a trading update, James Halstead said: “Since the announcement of the interim results, the company has continued to trade solidly in difficult global conditions.

“There is modest growth in our UK flooring turnover but total turnover will be some 4% below the previous year of which half is a result of the discontinued activities in motorcycle accessories.

“Taking the above into consideration it is expected that operating profit will be within the range of market expectations.”