James Halstead is a manufacturer and international distributor of commercial floor coverings. The group has this morning released very strong full year results to 30th June 2021 with an EPS beat of 4.9% to our recently upgraded expectations. This reflected another record performance for the group, with the Board successfully steering the business to achieve profitable market share gains in what was a particularly challenging 12-month period brought about by the COVID-19 pandemic and its knock-on
Companies: James Halstead plc
James Halstead is a manufacturer and international distributor of commercial floor coverings. The group has this morning released a highly creditable full year trading update to 30th June 2021, reflecting another record revenue and PBT performance, notwithstanding the various challenges faced in the last 12 months. While H2 2021E demand remained strong, input pricing, stock availability and self-isolation of employees all had to be extremely carefully managed in order to achieve this outcome. On
James Halstead is a manufacturer and international distributor of commercial floor coverings. The group has this morning released an encouraging set of interim results to 31 December 2020, slightly ahead of February's trading update, with a 3.3% increase in PBT to £26.0m and a net cash position of £74.4m at period end. A record interim dividend of 4.25p has been declared, putting the group on track to deliver yet another record year of dividend growth in FY 2021E. Whilst the current backdrop con
James Halstead is a manufacturer and international distributor of commercial floor coverings. The group has this morning released a robust H1 2021E update to 31 December 2020, reflecting a continued strong relative trading performance in the first six months of the current financial year against the present backdrop, which remains challenging, not least as a result of the various national lockdowns. Whilst margin pressures have been seen due to increases in raw material, manufacturing and distri
Looking Ahead At The Next Week
James Halstead is a manufacturer and international distributor of commercial floor coverings. The group has this morning released an update to coincide with its AGM, covering the first four months of its current financial year. This demonstrates both a continued robust performance against the present backdrop, alongside the acquisition of a distribution business in Malaysia. The previously declared final dividend 10.0p will be paid on 11 December, resulting in another record full year dividend
James Halstead is a manufacturer and international distributor of commercial floor coverings. The group has a particularly strong track record in delivering for shareholders over many decades and FY 2020A results again demonstrated another highly creditable performance against the current challenging backdrop. The group's strong focus on product design and innovation, in combination with highly rated customer service, has resulted in an enviable reputation for excellence in its expanding geograp
James Halstead is a manufacturer and international distributor of commercial floor coverings. This morning, the group has provided a full year trading update for the twelve months to 30 June 2020, which illustrates stronger demand than anticipated at the time of the interims in March. A second interim dividend has been declared, whilst the year-end cash figure is reported to be ahead of the interim position. Furthermore, since the year-end, UK sales are reported to be less than 10% down against
Companies: Dillistone Group Plc (DSG:LON)James Halstead plc (JHD:LON)
Solid interims – near term outlook uncertain
US & German manufacturing PMI hits lowest readings since 2009, UK manufacturing PMI heads below 50, BorgWarner expects material financial impact from customer production halts
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Japanese PMI falls to lowest level since 2009, GE Aviation cuts 10% of workforce, Kone downgrades 2020 outlook
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US building permits fall in Feb missing estimates, Scania to temporarily stop European production from next week, JCB halts production across 9 UK plants
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German sentiment posts largest fall since 1991, US non-residential construction backlog rose in Jan, Daimler suspends European production for (initial) 2 weeks
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UK GDP flat in Jan missing estimates, Japan's machine tool orders fall 30% y/y in Feb, Boeing falls 18% yesterday as draws down loan
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German industrial production rose above expectations in Jan, Taiwan's exports rise in Feb but expect March decline, US machine tool orders fall 34% in Jan
Companies: CGS HAYD HEAD HILS HTG JHD OXIG RSW RNO SCPA TWD TRI ZTF GHH
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Shoe Zone’s accelerated digital strategy and defined store rationalisation programme, alongside decisive action on cost control and cash preservation, means the Group is emerging from the pandemic as a leaner, stronger and more resilient business. Robust cash generation means we expect the Group to be debt free and able to reinstate its dividend in the current year.
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discoverIE has confirmed continued strong trading momentum and we have upgraded our FY 2022E EPS forecast by +2%. H1 sales were up +23% on last year at CER, driven by +15% organic growth over last year (+8% compared with two years ago) and a strong contribution from acquisitions. Orders remained well ahead of sales with organic growth of +64% against last year and +34% against two years ago. The Group is managing widespread supply chain challenges effectively and we have made no changes to our g
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Victoria has issued a positive half-year trading update that confirms underlying profit before tax for FY2022E will be ahead of consensus market expectations. Against a background of strong consumer demand for its flooring products, the first half has seen record operating earnings. Management expect this demand picture to continue into next year and beyond with the added support from the high level of housing transactions which is a good lead indicator of future refurbishment activity. Septembe
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SOS has delivered another impressive performance in H1, with sales almost tripling driven by rapid sell through of stock across all categories. Trading with 3rd parties has also significantly accelerated, and the May funds raise is helping SOS to meet the strong/proven demand. Importantly, range diversification means returns rates are below pre-pandemic levels. Gross margin gains, operational improvements and a strong marketing ROI helped reduce EBITDA losses. Furthermore, supply chain disruptio
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Today's news & views, plus announcements from NWG, WPP, SMDS, BDEV, CSP, EMG, HICL, QTX, RLE, MTEC, BOOM, CAPD & THG.
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Today's news & views, plus announcements from BATS, GRI, HAS, NEX, RAT, QQ., BRK, PURP, POLR & CAY.
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Although renewable energy has been gaining increasing traction over the past decade as the costs of renewable energy generation and perhaps more importantly, energy storage have fallen, 2020 was a seminal year for transitional energy investors driven by governments seeking to “build back better” after COVID-19. The US has committed US$2.25trn largely focused on the energy transition while the EU has committed US$0.54trn with companies around the world including China committing to net zero targe
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Petershill Partners (PHLL.L), has joined the Main Market (Premium), a leading investment group providing bespoke capital and strategic solutions to some of the world's best performing alternative asset management firms. Petershill Partners today comprises minority investments in 19 high-quality Partner-firms, previously held in private funds managed by Goldman Sachs Asset Management (GSAM). The Partner-firms have US$187 bn of aggregated assets under management. The Offer would comprise (
Companies: ABDP EKF HMI JSE SML
Results for H1 FY22 reflect a consolidation of significant market share gains achieved over the past two years with Group revenue +73% versus H1 FY20. Near term impact on profitability resulting from COVID-driven distribution cost inflation, as well as key investment in building out the Group’s multi-brand proposition should not detract from the longer-term growth potential of the Group’s platform. A PE of 25.5x falling to 18.5x is at odds with the significant market opportunity that exists as m
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Sosandar, the celebrity-endorsed women’s fashion brand, benefits from a simple and scalable capital-light online model, a fast-growing affluent customer base and a robust pipeline of new styles introduced each month. The company is achieving impressive growth across all key performance metrics and has a solid balance sheet to support its rapid expansion in the UK and, we believe, internationally over the medium term.
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Q2 results were roughly in line with expectations. With little surprise, the FY21 margin outlook was cut given the price uncertainties of the raw materials. This is the first bad signal for the sector.
Companies: Unilever PLC
The H1 results (in line with expectations) were led by New Category growth (up by +50%) and the partial recovery from the pandemic impact. We see the outlook as good, with annual sales revised upwards and even though margins may be challenged by increased New Category investments. This is definitely good for the long term, but could be (unfairly) misinterpreted by the market at the moment.
Undoubtedly, renewable energy is a growth sector, albeit one where public subsidies are pivotal. Approximately 40% of UK electricity demand is now met by renewable energy, a figure that is set to rise further as coal-fired stations are decommissioned and nuclear power capacity, despite the Hinkley Point C project, falls.
Of the privatised electricity companies, SSE, by some way, is the key renewables player: it owns more than 3.8GW of renewables generation capacity. However, there are now 19 qu
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