Cavalio and Polyflor parent James Halstead enjoyed record profits and sales in the past year. Operating profits rose 6.9% to £38.3m in the year to 30 June as sales climbed 14.8% to £213.9m.
‘Notwithstanding these figures, it was a difficult year. The UK economy and the construction sector in particular faced an austere backdrop. Additional challenges were the price, and at times availability, of basic raw materials. This resulted in an inevitable degree of margin erosion.
Having said this, the UK turnover progressed by 2.7%,’ says Geoffrey Halstead, chairman. ‘Our success in overseas markets was impressive with a 22% increase in revenue over the prior year and some 66% of our turnover is now outside the UK.’