British flooring firm reports sales and profits at "record levels"

A flooring company has released preliminary results for the year which claim that profits are up 16.9 per cent and revenue up 11.6 per cent.

James Halstead plc, despite a “complicated year”, has announced profits of £51.3m in 2021. This is up from £43.9 last year.

In addition, the firms revenue has seen an increase from £238.6m in 2020 to £266.4m this year.

Although the pandemic and national supply issues are frustrating businesses nationally, the company’s chairman seems optimistic about the future.

Chairman, Anthony Wild, said: “Supply shortages continue to frustrate whether they be due to the lack of availability of raw materials or to the widely publicised shortages of drivers and ongoing concerns with international freight.

“The cost of moving goods, the availability of shipping space and extended delivery times are both ongoing challenges. Our UK factories are in production and are tasked with raising stock levels and we have taken on extra shop-floor labour to assist in this task.

“It is clear that ongoing issues with the global pandemic are not at an end and the cost pressures continue to persist but we do see signs of certain materials becoming more available and at a lower, albeit still high, cost.

“Notwithstanding these concerns, I, and the board, can only be confident of another solid year of progress.”