James Halstead: impeccable as always and worth the premium
Interim results from the flooring specialist were delightfully free from the sort of accounting adjustments one sees from the vast majority of companies. It is also well ahead of other companies in its ESG commitment, to the extent that it has even added an extra letter to the usual acronym.
James Halstead (LON:JHD), the AIM listed manufacturer and international distributor of commercial floor coverings, reported the usual impeccable results for the 6 months ending 31 December 2020, free from the sort of questionable accounting adjustments one sees from many companies. While revenue was flat at £130.45m, this was still record level for sales, which is a considerable achievement in such a difficult period. Operating profit rose 3.9% to £26.2m, pre-tax profit was up 3.3% to £26.0m and basic earnings per share were 3.2% higher at 9.8p.ESG CheckerJames Halstead has commenced the use of fossil free PVC polymers that are sourced from…