James Halstead (JHD) Trading Update summary

Trading performance

• Sales of resilient sheet flooring to healthcare, education, and institutional sectors have seen increased confidence, with strong regional sales in the Middle East and the Americas.

• Overall sales are slightly below last year, but profit before tax remains comparable to H1 2024.

• UK sales are steady but constrained by lower customer confidence, revised capital spending, and distributor destocking.

• Overseas, sales in Australia and New Zealand have declined, while turnover in the Americas, Middle East, and Mediterranean is progressing.

Financial position

• The company remains ungeared, with cash levels broadly similar to the previous year (£62.4m), despite increased dividends and higher UK corporation tax.

Outlook and guidance

• Board expects full-year profit before tax to be in line with market expectations.

• Confidence in UK prospects is supported by a backlog of repairs and renewals in health and education sectors.

• Interim results for the half-year ended 31 December 2024 will be announced on 31 March 2025.