Bury-based commercial flooring company James Halstead has said it is on track to achieve “record” turnover and pre-tax profit.
The firm, which supplies flooring to the NHS, the Hobbiton resort in New Zealand and Agent Provocateur in London, said UK turnover was 6.8 per cent ahead of last year, in a trading update for the half year to December 31.
Turnover and profit had been “encouraging” for the first five months of the current financial year, which continued into December, it said.
James Halstead said its performance is “creditable” despite “prevailing market conditions”.
It said: “Underlying margins held up but in the period July through to September there were adverse manufacturing variances and incremental labour costs associated with extended shifts [and] overtime subsequent to a significant engineering breakdown.
“Notwithstanding this adversity the company expects to report record pre-tax profit for the half-year.”
James Halstead is due to publish its interim results on 31 March 2020.
