Coronavirus impact: 31 March - quality shines through
Many of the smaller companies we follow are still dominated by the founders and family. It’s clear that these have adopted a more sensible attitude to debt than many of their larger peers and are better prepared for the current situation.
James Halstead: impresses with its fortress like balance sheet and commitment to a dividendManufacturer of commercial floor coverings, James Halstead (LON:JHD), has announced record 1st half results and, as a preferred supplier to the health service, its products continue to be in high demand. For the 6 months ending 31 December 2019 sales rose 3.7% to £130.4m, pre-tax profit was up 2.8% to £25.2m and basic earnings per share increased 4.1% to 9.5p. The operating cash inflow of £28.4m boosted period end cash to £64.3m, just what’s needed going into the current crisis. The group experienced decent growth in many regions,…