James Halstead Expects To Achieve Market Expectations For Full Year

23rd Jul 2010 07:25

LONDON (Dow Jones)--James Halstead PLC (JHD.LN), a manufacturer of commercial flooring, said Friday it expects to achieve market expectations for another record year for profits. MAIN FACTS: -Overseas sales have matched or exceeded expectations with increased global demand and the assistance of favorable exchange rates. -Company has increased sales in most markets despite the difficult economic conditions; Europe has seen strong growth, as well as North America, the Middle East and Asia. -Maritime and transport sectors have been particularly buoyant and Polyflor continues to perform strongly. -Polyflor ROF, a specialist safety product, is being specified by many governments which has resulted in a number of notable projects in the last few months. -U.K. revenue is broadly in line with last year; Company is trading well although many U.K. infrastructure spending plans have been deferred or delayed. -Continues to see growth in transport and refurbishment spending. -Company experiencing raw material prices ahead of its expectations, particularly for plasticizers and polymers and in some cases there have been restrictions in availability; The situation is currently manageable, it is not ideal and may continue for several months. -Shares on Thursday closed at 645 pence, valuing the company at GBP334.6 million -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires July 23, 2010 02:25 ET (06:25 GMT)