James Halstead plc (LSE:JHD) said sales for the six months to 31 December 2025 are expected to be modestly lower than the prior year, as weaker conditions in Central Europe and the Asia-Pacific region offset otherwise resilient trading elsewhere. UK revenues remain marginally ahead year on year, while activity in North America, the Middle East and South Africa continues to show growth.
The group noted that a more cautious stance on customer credit has weighed on revenues and is likely to lead to a small decline in profitability for the first half. Despite this near-term softness, the board highlighted a strengthening cash position, an ungeared balance sheet and continued investment across its UK manufacturing sites as key supports for future performance. The company is also rolling out new and refreshed product ranges and has implemented management changes in the Asia-Pacific region, which it expects will help drive improved revenue and profitability in the second half.
Overall, James Halstead’s outlook remains underpinned by a stable financial position and an attractive valuation. These strengths are tempered by weak technical indicators pointing to short-term downside risk, while the lack of near-term revenue and free cash flow growth remains an area of focus as the group looks to reaccelerate performance.
More about James Halstead plc
James Halstead plc is a UK-based manufacturer and international distributor of commercial flooring products, specialising in vinyl and related surfaces. The group serves customers across a range of global markets, with a strong base in the UK and growing exposure in North America, the Middle East and South Africa, alongside operations in Central Europe and the Asia-Pacific region.
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