StockMarketWire.com - James Halstead upped its final dividend as the floor coverings supplier hailed a year of record profit and turnover.

The company proposed a final dividend of 10.0p, representing a 3.6% increase which, combined with the interim dividend paid in June of 4.0p, took the total dividend to 14.0p, 3.7% higher on last year.

For the year ended 30 June 2019, pre-tax profit rose 3.4% to £48.3m from a year earlier and revenue climbed 1.4% to £253m.

The UK turnover, which represented 35% of the total, grew by 7.1% driven by a targeted sales focus in a difficult market, the company said.

‘The constant focus on Brexit has led to deferred spending in several sectors and certain retail chains are curtailing their normal refurbishment cycles,’ it added.

Looking ahead, the company said that trading since its year-end continued to be solid, particularly in the UK.


At 8:20am: [LON:JHD] James Halstead PLC share price was +7p at 511p



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