BOSSES at Radcliffe-based James Halstead PLC remain positive and focused on the future despite a dip in revenue and pre-tax profits.

Results posted for the year ending June 30 show that the manufacturer and international distributor of commercial floor coverings saw its revenue drop 4.1 per cent to £217.1 million compared to the previous year.

Pre-tax profits went down from £42.7 million to £41.2 million, a 3.5 per cent fall. Despite this, however, the board proposes a 9.2 per cent increase in the final dividend per share, up to 6p.

Putting the financial figures into perspective, chairman Mr Geoffrey Halstead said: “Looking at the revenue more closely, the turnover in the UK is 3.5 per cent ahead of last year and encouraging indeed. Turnover, though down overall, includes the effects of foreign currency translation and the cessation of the motorcycle accessories business, Phoenix, last year. Excluding these, the decline in turnover is 1.1 per cent.

“We continue to win significant new build projects around the world, such as the Specsavers chain of stores in Sweden and the Wulanchabu Hospital in Inner Mongolia.”

The group’s buoyant home performance is illustrated by the fact that its Polyflor and Riverside flooring plants, in Radcliffe New Road, Whitefield, and Teeside respectively, enjoyed a solid year with UK turnover increasing by 3.7 per cent.

Chief executive Mark Halstead said: “Profitability increased and these manufacturing facilities are the backbone of our sales activities around the globe. In the early part of the year, we launched Polyflor Modena to the UK trade to set the standard for design effect in safety flooring and the sales have been encouraging.

“Our business man-ufactures and sources vinyl floor covering and though the majority of sales are manufactured in-house, there is an important fraction from elsewhere, most notably China.”

Although Halstead’s do not own a factory there, it has a manufacturing partner in China which has become the only vinyl flooring factory in that country to achieve the coveted ISO 14001 accreditation.

Commenting on the latest financial results, he continued: “In these challenging times, with recessionary pressures on many businesses, I am disappointed not to be able to report continued record revenue and profit. However, the past decade has seen turnover more than double and profit before tax treble. Our flooring business continues to be highly successful.”

Looking ahead, he added: “There are signs of recovery, but these are patchy.

“Our markets remain solid but missing that key confidence that growth has returned. I am confident our portfolio and our commercial reputation will hold us in good stead but cannot predict that there will be significant growth in the short term.”