RADCLIFFE-based James Halstead Plc has unveiled a record annual turnover and profit performance despite what its chief executive has described as a “difficult year.”

Preliminary financial results for the year ending June 30 show that the manufacturer and international distributor of commercial flooring saw revenue increase three per cent to £223.5 million.

Pre-tax profits rose 3.1 per cent to £41.8 million, and the proposed final dividend of 7p per ordinary share is up by 16.7 per cent.

Halstead’s head office is in Hollinhurst Road, Radcliffe, while its flagship Polyflor manufacturing plant is located in Radcliffe New Road, Whitefield.

Chief executive Mark Halstead said: “Our progress in the second half has brought about record flooring turnover and record profit but it has been a difficult year. Growth has been hard won and the end result is a satisfying one.

“We remain on track to continue growth. And following a decade which has seen a financial crisis and a global construction contraction and in which we have doubled turnover, tripled our profit after tax and quadrupled the dividend, I can only say not bad at all.”

He continued: “Our UK position as market leader continues and the UK growth of seven per cent has been the bedrock of the year’s results. Europe continues to represent a sizeable portion of our business, some 43 per cent, and it is pleasing to note that this has grown by three per cent in markets that, overall, are still largely showing no growth.

“We have our own warehousing in many parts of the world but our exports continue to reach a myriad of locations. I am pleased to be able to report upturn in specifications and installations such as the Baghdad Medical Hospital and the General Hospital of Samawa in Iraq being good examples.

“We have also shipped significant volumes of flooring to fit out temporary accommodation to house the workforce that is undertaking a very substantial amount of new build in Qatar, no doubt for the future World Cup.”

Commenting on the outlook for the future, chairman Geoffey Halstead said: “Our performance in the latter months of the financial year was improved with a much welcomed tailwind following 18 months of doldrums.

“The new financial year has continued with positive growth. Next year will be our centenary and I look forward to celebrating continued success at that anniversary.”