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James Halstead Target Market Share Growth As Annual Profit Rises(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - Flooring products business James Halstead said it is focused on increasing market share in a number of territories, as profit increased during its last financial year. The company posted pretax profit GBP41.8 million for the year to June 30, up from GBP40.5 million a year earlier, as revenue crept up to GBP223.5 million from GBP217.1 million. James Halstead said it made considerable progress in the second half, with revenue growth seen across a number of territories. The flooring manufacturer said UK revenue growth of 7% was the "Bedrock" of its annual results. "Europe continues to represent a sizeable portion of our business, some 43%, and it is pleasing to note that this has grown by 3% in markets that, overall, are still largely showing no growth," the company said. However, James Halstead said that there was continued difficulties in the Australasian market but said that going forward the outlook looks to be more positive. At an operating level, towards the end of the financial year, the company launched Polysafe Verona, as an addition to the Polysafe range slip resistant floor covering. James Halstead said Polysafe is the industry benchmark and Verona's "decorative appeal will raise its prominence". Looking ahead, the company said: "Much has been written about the strength of sterling and the possible negative effect on exporters, but there are large offsetting factors not least the effect of cheaper input prices of raw materials and we remain positive." James Halstead said its portfolio and commercial reputation hold it in good stead. "In short, we are focused on increasing our market share in established markets and expanding our direct sales teams in the next target group of territories," Chairman Mark Halstead said in a statement. On the back of its performance the company increased its final dividend to 7.0 pence from 6.0 pence a year earlier, making a total dividend of 10.0 pence compared with 8.75 pence. James Halstead shares were quoted up 2.0% at 295.00 pence Wednesday morning. Copyright 2014 Alliance News Limited. All Rights Reserved. |