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James Halstead PLC on Tuesday saw it shares edge lower as it said it expects sales and profit to decline on the previous financial year. The Manchester-based commercial flooring manufacturer and distributor reported ‘continued confidence’ in the resilient sheet flooring segment in a trading update ahead of its final results for the financial year that ended June 30. It noted that profit before tax is trading in line with expectations. However, it noted headwinds relating to luxury vinyl tile sales, with this mainly experienced in Europe, but added that it has achieved market share growth in the UK. Sales in the UK are up on-year, said James Halstead, as it noted the prior year’s 5% decline from its comparative. ‘It is pleasing to note that our performance this year has seen this decline more than fully reverse,’ said the company. However, James Halstead said its internal expectations for the UK have not been met, with an expected uplift in education, healthcare and prisons not yet materialising. The company added that sales in the aged healthcare and affordable healthcare sectors are ‘performing satisfactorily.’ Shares in the company fell 3.9% to 149.48 pence on Tuesday afternoon in London. Muted consumer spending activity was reported by James Halstead in Europe, impacting luxury vinyl tile sales, with volume declines further hit by increased government budget focus toward national security. On rest of the world trading, the company said sales have been ‘generally more positive’, as it experienced ‘very good growth’. James Halstead said it expects sales and profit to come in below the prior financial year’s ‘record levels’, though still remaining within the range of market expectations. It expects to report its full-year results towards the end of September. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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