James Halstead (JHD) Trading Update summary

Trading performance

• Confident of exceeding prior year comparatives for profit and dividend, with improved profitability from H1 continuing into H2.

• Record profit before tax expected, in line with or above upwardly revised expectations.

Sales and market conditions

• Strong sales in resilient sheet flooring for healthcare and institutional sectors.

• Regional sales buoyant in the Middle East and Americas, but weaker in domestic sectors, especially UK and Europe.

Operational and cost management

• Gains achieved through control of overheads, bolstering margins.

• Benefited from lower raw material prices, though energy costs remain high and raw material costs are still 50% above June 2020 levels.

• Red Sea shipping disruptions increased costs and led to higher stock levels, especially impacting APAC operations.