Manchester, England, March 31, 2006--Commercial flooring producer James Halstead posted record half-year figures despite a huge surge in energy and raw material costs, according to the Manchester Evening News.
In the six months to December 31, profits soared 22.6 per cent to £8.5m on turnover up 10.7 per cent at £62.89m.
Shareholders were rewarded with an interim dividend of 4.25p per share, up 21.4 per cent.
Finance director Gordon Oliver said the company was justifiably pleased. He said: "When we were doing our budgets there was genuine fear because of rising energy and polymer prices, but our sales people went out and brought in the business that allowed us to offset those costs."
Oliver added that the prospects for the second half were encouraging, though he did raise concerns about the length of time it is taking the company to gain approval for upgrading access to the long-standing Radcliffe site.
He said: "We are disproving the current myth that if you are a UK company you can't manufacture and compete globally. We want to expand our facilities but we can't get the land we need, it's very frustrating."
About £2m was being spent on the 100-year-old buildings housing the manufacturing site.
Halstead's flagship flooring brand Polyflor is used worldwide, particularly in hospitals.
