James Halstead Share Discussion Threads

[essentialinvestor] 02/10/2024 19:11

The current rating is reasonable on the last 10 year average, however how much of this higher multiple was IHT tax benefit related?. IF this goes, perhaps around 16 X..?.

[wad collector] 01/10/2024 13:15

Making more money on less turnover seems the theme. Market seems positive; perhaps the worst is now behind JHD?


Financial highlights​
Revenue at £274.9 million (2023: £303.6 million) - down 9.4%
Profit before tax of £56.2 million (2023: £52.1 million) - up 7.9%
Profit after tax of £41.5 million (2023: £42.4 million) - down 2.1%
Earnings per ordinary share of 10.0p (2023: 10.2p) - down 2.0
Final dividend per ordinary share proposed of 6.0p (2023: 5.75p) - up 4.3%
Cash of £74.3 million (2023: £63.2 million)



Operational highlights
Gross margin improvement in all major markets - overall up by 6% to at 44% (2023: 38%)
Continued investment in our operations
o Riverside - invested £350,000 to update new drive system for press and registration control systems
oRoyton - full upgrade to modern LED lighting at the cost of £200,000
o Radcliffe - undertaking preparatory work for a £400,000 investment in solar panels
New significant business secured in UAE, Colombia, Iceland, Italy, Mexico, Poland, Greece and South Africa
Completion of projects around the world underpin our strong foothold in global markets

Outlook
Prospects continue to look positive giving the board confidence in the outturn for the financial year ahead
FY24 was a year of profitable growth - we look ahead with confidence in our long term strategy

[saint or sinner?] 27/9/2024 09:24

Results due Tuesday I believe (1 Oct).

I think there is a general market malaise re AIM stocks; I'm guessing investors are expecting Rachael Reeves to remove the IHT benefits and so are switching out of many AIM companies. Disappointing but I suspect a short term blip in the grand scheme of things for well run companies like JHD.

[bda3490] 11/9/2024 19:54

I believe the company and family gave the Sir Geoffrey a good funeral.
94 not a bad innings

[lundhousegreen] 02/9/2024 15:50

James Halstead Plc - Life president Geoffrey Halstead dies aged 94

The Halstead family are very sad to announce the death on 22 August 2024 of Geoffrey Halstead, Life President of James Halstead Plc, aged 94.

[bda3490] 01/8/2024 16:37

Not quite £ 2 today

I should say I bought a grands worth back in the late 1990s

Get nearly more back in dividend each year than shares cost and a free bar at agm

[wad collector] 31/7/2024 13:32

Profit before tax at record levels ; that will do. JHD like quiet understatement.

[saint or sinner?] 31/7/2024 10:06

Nice update to more than calm the market ... and of course further confirmation, as if it were needed, that the only beneficiary of Brexit (for a short while at least) was a certain disgraced, former PM.

[bulltradept] 31/7/2024 07:57

James Halstead plc, the commercial flooring manufacturer and international distributor, is providing the following trading update ahead of its results for the year ended 30 June 2024.



The Company is fully confident of exceeding the prior year comparatives for profit, cash levels and dividend, with improved profitability seen in the first half continuing into H2.



The Company sells, for the most part, commercial flooring across the world and has seen continued confidence in the segment of resilient sheet flooring that is sold into the healthcare, education and other institutional sectors. Regionally sales into the Middle East and the Americas have been particularly buoyant. Some of the Company's products are focused on domestic sectors and performance of these products have been weaker in several territories - the UK and Europe being the most significant.



Notwithstanding this drag on performance the Group's productive output, gains on product mix and cost control of overheads have bolstered margins.



There have been gains on lower raw material pricing although energy costs, principally electricity, remain high. Notwithstanding the fall in raw materials costs during the year these input costs, in general, are around 50% ahead of June 2020 levels.



Operationally, the widely reported disruption to shipping in the Red Sea has lengthened delivery times and increased costs across the sector, which is particularly difficult for our APAC markets. As a result stock in transit has increased and in response we are holding stocks in the our overseas marketplaces at higher than normal levels.





In summary, profit before tax will be at record levels and in line with (upwardly revised) market expectations.



The Company expects to announce its results for the year ended 30 June 2024 on 1 October 2024.

[zangdook] 31/7/2024 07:53

Funny mixture of "problems but everything is great".

[wad collector] 30/7/2024 22:26

Ah I remember what the filter button is for now.

[bda3490] 30/7/2024 19:29

Oops

wad collector
Aka the ghost of Xmas past that offers advice on former investments
Reminds me of the telegraph investment column by Lord Lee of the Conservative Party of Bramhall

[bda3490] 30/7/2024 16:48

Was collected

Maybe you have some insight as to the share price. I think it’s small holders that don’t buy on weakness and like moaning .

But maybe the overdue trading update will tell us of the woes.

[wad collector] 30/7/2024 11:23

The share price looks like it is heading for a care home at the moment!
25 yrs of steady rise made JHD one of the darlings of the AIM market but this has been one of the longest dips . I suspect most of us are just holding on and awaiting a gradual change in fortune . If the new gov changes the AIM IHT rules then it won't help.

[kar120c] 18/7/2024 15:21

They do a big range of LVTs and other hard flooring for the domestic market. The Northeast factory makes a range of cushionfloor products. They no longer produce anything resembling a carpet but use to market an easy cleanable carpet for use in care homes not sure if that is still the case.

[bda3490] 16/7/2024 19:10

To be honest the Carpetright comment was mischievous. JHD don’t do the fluffy stuff nor I believe domestic flooring .

[trigger blade] 16/7/2024 12:47

I missed that news bda3490, do you have a source for it?

[saint or sinner?] 13/7/2024 09:18

Hope they have only offered £1 for it.

0 ;-P

[bda3490] 12/7/2024 18:33

Big jump today news says they are buying Carpetright

[saint or sinner?] 04/7/2024 16:21

Price drifting on the lack of any news, which is pretty much how it always is from JHD between results. This is what they said on 27 March, so one would assume nothing has changed materially since then ... indeed with inflation falling one might hope that things are even better!

Looking ahead, James Halstead said its sales of manufactured goods in January and February are "in line with last year's record comparatives". It also noted that UK activity is showing "improved confidence against the last six months."

"Margins remain solid and overheads are contained within inflationary parameters. Consequently, the improved first half profitability continues into the early months of the second half of the year. I, and the board, remain confident of making further progress," Wild added.

[alter ego] 01/7/2024 11:17

thx william127 for incisive comment