James Halstead (JHD) Trading update summary

Sales performance

• First half sales saw a slight decline due to ongoing challenges in Central European and Asia Pacific markets.

• UK sales were marginally higher year-on-year despite market uncertainty.

• North American, Middle Eastern, and South African markets experienced sales growth.

• Conservative customer credit policies contributed to lower revenue in some regions, including the UK.

Operational and strategic updates

• New and updated UK product ranges are expected to boost future revenue, with sufficient factory capacity for increased volumes.

• The Expona Commercial collection was relaunched in Germany, receiving positive reviews and early sales momentum.

• Senior management changes in APAC are anticipated to drive revenue and profitability improvements in the second half.

Financial position and outlook

• Profitability for the first half will be slightly lower due to stricter credit limits, but the outlook for the second half remains positive.

• Cash balances increased, the company remains ungeared, and ongoing investment in UK sites continues.

• Interim results for the half-year ended 31 December 2025 will be announced on 31 March 2026.