2 October 2023
JAMES HALSTEAD PLC
(“James Halstead”, the “Group” or the “Company”)
PRELIMINARY ANNOUNCEMENT OF AUDITED RESULTS
FOR THE YEAR ENDED 30 JUNE 2023
James Halstead plc, the AIM listed manufacturer and international distributor of commercial flooring, announces its results for the year ended 30 June 2023:
Financial highlights
| · | Revenue at £303.6 million (2022: £291.9 million) – up 4% |
| · | Profit before tax of £52.1 million (2022: £52.1 million) – a small increase |
| · | Profit after tax of £42.4 million (2022: £40.3 million) – up 5.1% |
| · | Earnings per 5p ordinary share of 10.2p (2022: 9.7p) – up 5.2% |
| · | Final dividend per ordinary share proposed of 5.75p (2022: 5.50p) – up 4.5% |
| · | Cash of £63.2 million (2022: £52.1 million) |
Mr Mark Halstead, Chief Executive, commenting on the results, said:
“Against a challenging backdrop, I am pleased to announce a very respectable performance across the Group and another record sales performance. Good demand across a number of our key markets has continued to drive the positive top line. Consequently, we are also pleased to report a record level of profit and record EPS, creating even more value for our shareholders.
We continue to invest in driving process improvement and developing our product offering, with a view to also improve output efficiency. It is this approach and our tested business model which position us resiliently in the inflationary environment that has been seen across global markets.
We ended the year with a robust balance sheet and in a position to propose a record dividend to our shareholders. Whilst inflationary issues and spending constraints remain, I and the Board remain confident in the Group’s progress going forward and look ahead to the future with confidence”.
| Enquiries: | |
| James Halstead: | |
| Mark Halstead, Chief Executive | Telephone: 0161 767 2500 |
| Gordon Oliver, Finance Director | |
| Hudson Sandler: | |
| Nick Lyon | Telephone: 020 7796 4133 |
| Nick Moore | |
| Panmure Gordon (NOMAD & Joint Broker): | |
| Dominic Morley | Telephone: 020 7886 2500 |
| WH Ireland (Joint Broker): | |
| Ben Thorne | Telephone: 020 7220 1666 |