Halstead Says Falling Materials Prices Helping

Manchester, England, Jan. 29, 2009--Commercial flooring manufacturer James Halstead yesterday reiterated that its full-year sales and profit would be in line with its expectations and ahead of last year's figures.

Halstead said it was starting to benefit from falling raw material prices and that its export margins are being bolstered by the weakness of sterling.

Chairman Geoffrey Halstead said: "The first six months' sales and profit have been satisfactory and, with the UK government committed to continuing infrastructure spending, we believe there is a bedrock of demand.

"Though sterling weakness benefits our significant export business, we remain cautious as to global performance in the current climate and we will continue our focus on cost reduction and control of working capital."

Some of the more unusual places in which the firm had installed floors include the Scott Base in Antarctica and the Svalbard hotel on the edge of the northern polar ice-cap, along with lap dancing clubs in Australia and Latvia.