James Halstead (AIM:JHD) – AIM’s blue chip rarely disappoints
The commercial flooring manufacturer and distributor, and one of AIM’s true blue chips issued the usual reassuring trading update ahead of its interim results for the half-year to 30 December 2014.
Turnover is approximately 6% ahead of the comparative six months and the first half year in line with the Chairman’s expectations.
While the current weakness of the Euro is not helpful to business a stronger Sterling and the lower price of oil are compensatory in their effects on energy costs and raw material prices.
This well established, cash rich business rarely disappoints.
Trading at around 20x June 2015 estimates and yielding 3.2% the shares aren’t cheap but it’s quality worth paying for!