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James Halstead says first half trading ahead of last year

The floor coverings company said it had launched several new ranges in recent months including Palettone – its new, design-led homogenous vinyl sheet collection
James Halstead says first half trading ahead of last year
James Halstead said its robust balance sheet and strong cash flows were its key strengths as a business

James Halstead PLC (LON:JHD) said trading in the first five months of its fiscal year was ahead of last year and that it expects to keep up its record of dividend growth.

The floor coverings provider said in a statement ahead of its annual general meeting on Friday that Palettone – its new, design-led homogenous vinyl sheet collection, had generated significant customer interest and was exceeding its expectations.

READ: James Halstead's export drive offsets destocking in home market

The company said it had launched several new ranges  in recent months.

“There is much speculation on the future trading relationship of the UK with Europe but our trading is global and we, as a Board, are confident of growth but mindful of potential short term issues. Our robust balance sheet and strong cash flows are undoubtedly key strengths,” James Halstead’s chairman Anthony Wild said in a statement.

“Trading to date has been encouraging and we have traded ahead of last year in terms of turnover and profits for the first five months. I am confident in the prospects of the company and more importantly I remain confident of maintaining our impressive record of dividend growth,” he added.

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