Blog
James Halstead (AIM:JHD) : The AIM star still shines bright
Posted 04/12/09
James Halstead plc, the commercial flooring company, and in our opinion one of the true stars of AIM, has done it again with an upbeat AGM statement and news of another special dividend.
In its AGM statement it confirmed that it is trading at levels that, in most cases, exceed last year and given that the half year to December 2008 was a record performance this can only be regarded as ‘most heartening’. Export markets appear to be more active on a consistent month to month basis and the low value of Sterling against major export trading currencies is helping.
With interest rates at all time lows the group’s cash pile isn’t benefiting as much as previously although the negative effect of ‘lost’ interest is being offset by the current trading performance.
Since 2005 through to 2009 the group has increased sales by over 50% and profit after tax by over 250%.
With due regard to all that cash (£27.5m at 30th June 2009) and the trading to date this year, the Board feels that the time is right to make another special dividend of 15p per share (share price 537p) which will be paid in late January 2010.
This will be the fourth special dividend adding to those of January 2005, February 2006 and February 2007.
They are also considering bringing forward the interim dividend, on a one off basis. The interim dividend is usually paid in late May and the request is to move this to the end of March, which has the effect of moving the income from the 2010/11 tax year into the current tax year.
A well run business that just keeps on performing!
This entry was posted 2 years, 2 months ago and was filed under James Halstead.
