James Halstead PLC

Latest Results (21.01.2026):

James Halstead PLC — results for the year ended 30 June 2024 (FY24, covering Q4 2024). Revenue fell to £274.9m (-9.4%) but profit before tax rose to £56.2m (+7.9%); profit after tax was £41.5m (‑2.1%) and basic EPS was 10.0p (‑2%). Gross margin improved materially to 44% (2023: 38%), cash increased to £74.3m and the board has proposed a final dividend of 6.0p (total 8.5p for the year).

Financial summary

Revenue: £274.9m (2023: £303.6m, -9.4%). Profit before tax: £56.2m (2023: £52.1m, +7.9%). Profit after tax: £41.5m (2023: £42.4m, -2.1%). Basic EPS: 10.0p (2023: 10.2p, -2%). Gross margin up to 44% from 38%.

Dividend

Proposed final dividend 6.0p (2023: 5.75p). Total dividend for FY24 8.5p (2023: 8.0p), an increase of c.6.25%. Final dividend (subject to approval) payable 13 December 2024.

Cash, balance sheet and cash flow

Cash and equivalents £74.3m (2023: £63.2m). Inventories reduced to £82.3m (2023: £87.4m). Cash inflow from operations £64.8m; capital expenditure £3.3m; dividends paid £34.4m.

Margins and cost drivers

Gross margin improvement driven by higher plant utilisation, productivity gains and price/mix. Selling & distribution costs broadly flat; administration up (notably IT investment and absence of prior-year insurance receipt). UK tax rate rose to 25% (2023: 20.5%), increasing the tax charge by c.£2.6m.

Investment and sustainability

Ongoing capital investment to boost efficiency and lower energy use: Riverside drive upgrade (£350k), Teesside fume abatement (£1.6m), Royton LED (£200k), Radcliffe solar preparatory work (£400k) plus several production and IT upgrades. Sustainability work includes the Recofloor scheme and a new Australian recycling initiative (Resiloop).

Geographic and operational performance

UK & Europe faced headwinds (UK sales £110.7m; Germany -17%, France -18%) while APAC was affected by shipping delays. Strong performance/record sales in Middle East (+26%) and South America (+12%); new significant business in UAE, Colombia, Iceland, Italy, Mexico, Poland, Greece and South Africa.

Outlook

Board and management express confidence for FY25, citing improved margins, strong cash generation and continued investment. Company describes FY24 as a year of profitable growth despite global trade disruptions. Summarized from source with an LLMView Source