James Halstead PLC (AIM: JHD) said market conditions have remained very challenging since it reported interim results at the end of March, but a decent performance of its overseas operations leads it to be fully confident of meeting market expectations for the full year.
In a pre-close trading update, the manufacturer and global supplier of commercial flooring said that in the UK, which represents around 40 percent of its sales, the last six months have seen a number of school, hospital and government PFI projects being delayed or deferred and there has been a slowdown in sales.
However, the group has continued to experience good growth in many overseas markets including Germany, its largest. Added to that the performance of its outsourced flooring products, positive exchange rates and overseas earnings, it means it is on track to meet market expectations for the year.
No comments:
Post a Comment