James Halstead PLC

Latest Results (10.07.2026):

James Halstead PLC — Q4 (year ended 30 June 2025): The Group reported a solid full‑year performance for the year ended 30 June 2025 with revenue of £262.0m (down 4.7% y/y) and profit before tax of £55.1m (down 1.9% y/y). Profit after tax was £40.6m and basic EPS was 9.70p (2024: 10.00p). Gross margin improved to 44.5% and the Board proposed a final dividend of 6.05p (total 8.80p), marking the 49th consecutive year of an increased dividend.

Key financials

Revenue £262.0m (2024: £274.9m); profit before tax £55.1m (2024: £56.2m); profit after tax £40.6m (2024: £41.5m); basic EPS 9.70p (2024: 10.00p).

Dividend

Final dividend proposed 6.05p; total dividend for FY25 8.80p (up 3.5% y/y). Final dividend payable 12 Dec 2025, subject to shareholder approval.

Margins and profitability

Gross margin improved to 44.5% (2024: 44.1%) driven by manufacturing efficiencies and product mix; selling & distribution costs reduced to £48.8m from £52.9m.

Cash, balance sheet and liquidity

Cash and cash equivalents £68.4m (2024: £74.3m). Inventories £80.4m. Net assets £182.0m (approx). Cash conversion cited at 1.23 by the Board.

Cash flow and capital deployment

Cash inflow from operations £50.0m; taxation paid £14.3m; equity dividends paid £36.5m. Capital expenditure £3.9m (FY25) invested in process and product improvements.

Operational highlights

Investment in efficiency and product ranges (including ESD/SD/EC flooring). Notable project wins and installations (Colchester Hospital award, Stade Toulousain, Deichmann stores, Real Madrid World Dubai, Polish military base, Sacco Hospital Milan).

Geographic performance

UK and North America showed resilience/growth (Canada +7.4% local currency); Malaysia (South Asia) grew strongly (+38% local currency). Headwinds in Central Europe, Australia and New Zealand weighed on overall revenue.

Outlook and management comment

Board expects further progress in FY26 while remaining cautious on near‑term European headwinds and customer credit; continued focus on product/process improvements and controlled costs. Management remains confident in ongoing profitable growth.