James Halstead continues to defy the economic gloom, and expects to see sales up by 10 per cent in the first half to December. In a trading update, the commercial flooring manufacturer reported a steady improvement in exports, which now account for over two thirds of group turnover, and while management conceded that the trading climate remains tough, there was even a modest rise in UK sales too.
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Margins have also been boosted by a slow down in the rate of raw material price increases in the first quarter, while some prices actually fell in the second quarter. Group finances remain strong too, with reserves up from the June year-end despite the cost of a share buy-back scheme and paying the dividend.
