RECORD results have crowned the most successful year in the history of Radcliffe-based James Halstead PLC.

The group, which in April received royal recognition for its buoyant exports, has revealed significant increases in turnover and pre-tax profits in its preliminary audited results for the year ending June 30.

And the financial achievements were fulfiled against the backdrop of adverse raw material prices and energy costs, according to chairman Mr Geoffrey Halstead.

The latest figures show that group turnover increased to £126 million, a 12 per cent rise on the previous year. Pre-tax profits soared by 27 per cent from £13.76 million in 2005 to £17.48 million. Further good news for Halstead's, based at Hollinhurst Road, is that the outlook for the future is very encouraging.

Mr Halstead said: "In recent weeks, we have committed funds for further expansion of both distribution facilities and manufacturing capacity and I look forward to the next year with optimism.

"Once again our team succeeded in facing the challenge of tough markets to expand our operations and on behalf of the board I extend our thanks for their efforts." Earlier this year Halstead's, whose core business is the manufacture of its Polyflor flooring, scooped a Queen's Award for Enterprise in the category of international trade.

More than half of its flooring production is sold overseas, the top markets being Germany, Australia and the emerging continent of Asia, including China and Japan.

Commenting on the accolade, chief executive Mr Mark Halstead said: "This was welcome recognition of our efforts in overseas markets and it is pleasing to report further growth in this area."

He continued: "This year was the most successful in our history and our subsidiaries and trading partners are well placed to continue this success."

Halstead's was established in 1915 and today employs more than 700 staff.