중간 결과
월 27 2024
제임스 할스테드 PLC
31년 2023월 XNUMX일로 종료된 반기 중간 결과
Strong H1 profitability and record interim dividend; solid margins and profit performance continue into H2
주요 지표
James Halstead plc, the AIM listed manufacturer and international distributor of floor coverings, announces its results for the six months ended 31 December 2023:
재무 하이라이트
· 수익 £136.5억 2022만(149.6년: £XNUMX억 XNUMX만) |
· 영업 이익 £26.2만(2022년: £23.1만) |
· 세전 이익 £27.4만(2022년: £23.2만) |
· 보통주당 기본이익 4.8p (2022년: 4.3p) |
· 중간배당 2.50p 선언 (2022년: 2.25p) |
· 현금 £62.4만(2022년: £44.3만) |
Mark Halstead 최고 경영자(CEO)는 다음과 같이 말했습니다.
"Against difficult markets we have raised profits and are confidently growing our export of UK manufactured goods across the globe. Once again, we have declared a record interim dividend to shareholders to reward their continued investment".
문의 :
제임스 홀스테드: |
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마크 홀스테드(Mark Halstead) 최고 경영자 | 전화 번호 : 0161 767 2500 |
고든 올리버(Gordon Oliver), 재무 이사 |
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허드슨 샌들러: |
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닉 라이언 | 전화 번호 : 020 7796 4133 |
닉 무어 |
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팬뮤어 고든(NOMAD & Joint Broker): |
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도미닉 몰리 | 전화 번호 : 020 7886 2500 |
WH 아일랜드(공동 Broker): |
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벤 손 | 전화 번호 : 0207 220 1666 |
회장 성명
31년 2023월 XNUMX일에 종료된 XNUMX개월 동안의 거래
Sales revenue of £136.5 million (2022: £149.6 million) was 8.8% lower than the prior year, primarily due to recessionary pressures in several major markets and delays in the rebuilding of our UK manufactured flooring export markets.
Profit before tax of £27.4 million (2022: £23.2 million) is 18% ahead of the comparative period, driven partly by higher rates of interest received on cash deposits and more importantly by increased operating profit which was 13.6% ahead of the prior year.
The turnover shortfalls relative to the comparative period were: Europe -15%, Australasia -13% and the UK -5%. The rest of the world showed 4% growth. The key growth areas were South America (+36%), the Middle East (+26%) and the Mediterranean (+22%).
Lack of availability of raw materials, lack of timely shipping and labour restrictions hampered export of manufactured goods significantly in calendar year 2021 and 2022. However, it is pleasing to see that the various bottlenecks that affected our exports in prior years are now largely cleared and we have been focused on restoring the project pipeline in order to facilitate sales growth in certain markets.
Margins have improved as manufacturing output increased significantly compared to the comparative period, up 62%. Gross margins in all major markets improved as productivity improvements in manufacturing output were realised and with a product shift to higher added value ranges. Exceptions to this general improvement were New Zealand, Malaysia and India where we were not able to fully recoup the added cost of transport of goods to these markets in late 2022 and early 2023 through price increases. However, the transportation cost fell steadily from March 2023 onwards to near normal levels by December 2023.
Our UK businesses (Polyflor and Riverside) fared well with manufacturing efficiencies through increased output more than offsetting the slightly lower sales in the UK. Exports from the UK to our own subsidiaries were much higher than the comparatives (principally Australia, New Zealand and Canada) and will translate into external sales as the stock arrives locally.
The principal area of sales shortfall against the prior year was in the product group of luxury vinyl tiles which was unsurprising given these ranges cross into the domestic consumer market. In the UK our sales model is to supply product in breadth and depth via the distribution trade whilst maintaining sales communication with the end customer and the flooring contractors. Our distribution customers often also supply domestic flooring of which the largest component is historically carpet, where consumer confidence and spending has suffered in recent years. Notwithstanding these difficulties, there is growth in the distribution trade and we continue to focus on this route to our end customers. The polyvinyl solution for flooring continues to increase its share of the market. The durability, cleanability and recyclability of vinyl combined with the cost, design choice and availability are key to the success of our flooring ranges.
Our German and Central European businesses are operating in an economic climate characterised by great uncertainty. Despite the difficulty in achieving sales, the underlying profit mix is favourable and profit has held up very well. The retail-shop refurbishment market, which has been a core strength, has suffered as many retail chains are facing challenging consumer demand and consequently renovation and new store opening plans are in many cases on hold. Notwithstanding this, we have delivered several key projects such as the "New Yorker", "Tom Tailor" and "Smyths Toy" store chains across the DACH region alongside projects such as the Papenburg Meyer shipyard, Marseille Airport duty free area and the new Lidl HQ in France. Despite softening demand in the European market, price increases were implemented in early 2023 and the product mix generally improved with higher value commercial ranges generally selling better than the "semi-commercial" / heavy domestic products. Objectflor were the recipients of the German flooring contractors association' (Netzwerk Boden) flooring project of the year for POHA House in Aachen, a listed building converted to living / work accommodation.
Canada faced a difficult trading climate with delayed construction projects and constrained budgets due to inflationary pressures. Nevertheless, like-for-like sales, in local currency, increased by 9%. Key projects such as the renovation of Rexell Pharmacy's stores and the Terra Hill Medical Centre are just two examples of installations in this market. As with other regions, margins improved and the net profit in Canada was over 50% higher (a record level).
Sales in the APAC region were mixed with New Zealand showing a modest growth (4%) in same currency, Malaysia was on a par with the comparative, Australia saw a 9% reduction and China down around 10%. Market conditions in New Zealand were difficult with the housing market facing an almost 40% decline in new builds. Despite this, our business was successful in driving sales into social housing initiatives. Range consolidation to ensure greater stocks in narrower colour/design options is helping to focus the commercial sales team on projects. Australia also faced challenges, most notably in the effects of interest rate rises on consumer confidence and a much decreased level of retail footfall, the latter having an effect on the rate of retail store refurbishment and expansion. In addition, there were delays / deferment of government social housing initiatives. Stock shortages in the early part of the period were also an issue due to the shipping delays of the prior year. Nevertheless Australia and New Zealand continued to supply projects such as the Footscray Hospital in Victoria and the Takanaki Base Hospital in New Plymouth.
We continue to make progress in Malaysia and South Asia. Fresh stock from Polyflor in the UK is starting to bolster margins and orders have been secured from projects not only in Malaysia but also Singapore, Indonesia and Vietnam.
North Asia, notably China, Hong Kong and South Korea continue to fall short of pre pandemic levels of sales as these markets suffered the worst of the supply chain issues from UK manufacturing sites throughout 2021-2022. Our North Asian team are rebuilding customer confidence with several key projects targeted.
Projects such as Nhan Le Kindergarten Hospital and the National Childrens Hospital (both in Vietnam), Sunway Hospital in Selangor, Malaysia and Skol4kds Childcare Centres in Singapore all continue our long association with the region. This can only deepen as The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) free trade agreement progresses to full ratification during 2024. UK manufactured products have always been welcomed in these markets and any trade agreement can only accentuate ongoing trade.
In the rest of the world, we delivered a myriad of projects from the Vox Cinemas in Kuwait to Coomeva Medicina Prepagada in Colombia.
주당순이익과 배당금
Since the start of the financial year we have distributed £24.0 million in dividends and paid corporation taxes of £8.2 million. In addition, capital expenditure over the same period was £2.1 million. The cash inflow from operations at £33.6 million significantly exceeds last year (2022: £22.7 million). Our cash, which stands at £62.4 million as of 31 December 2023 compared with £44.3 million at 31 December 2022, continues to be a key strength.
Having regard to our cash and profitability, we have decided to declare an interim dividend of 2.50p per share (2022: 2.25p), an increase of 11.1%. This dividend will be payable on 14 June 2024 to those shareholders on the register as at 17 May 2024.
현재 거래 및 전망
The breadth and depth of our projects across the globe continue to drive a diverse sales mix, from the renovation of the Novopecherska Primary school, in Kyiv, Hospital El Salvador, the major hospital in Chile, the UN Offices in Nairobi, Kenya to the Unimed Hospitals in Brazil. The recent disruption to shipping in the Red Sea has, to a degree, lengthened delivery times and increased costs which is complicating exports to our APAC markets and frustrating (to a small degree) the return to pre-pandemic norms for freight in respect of availability and cost.
The shortfall in sales against the comparative in the first six months to 31 December 2023 was largely attributed to lower consumer confidence in major markets and delays in rebuilding supply to export markets. In January and February, sales of manufactured goods are in line with last year's record comparatives and overall, UK activity is showing improved confidence against the last six months. In Europe there is a similar zeitgeist of positive sentiment. Similarly, export markets continue to show positive prospects for growth as our sales teams continue quoting on projects, with our highly regarded ranges of flooring, for timely delivery, around the world.
Margins remain solid and overheads are contained within inflationary parameters. Consequently, the improved first half profitability continues into the early months of the second half of the year. I, and the board, remain confident of making further progress.
앤서니 와일드
의장
월 27 2024
연결 손익 계산서
31년 2023월 XNUMX일에 종료된 반기 동안
반년 종료 31.12.23 £'000 |
반년 종료 31.12.22 £'000 |
출간연도 종료 30.06.23 £'000 | |
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수익 | 136,451 | 149,638 | 303,562 |
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영업 이익 | 26,213 | 23,085 | 51,611 |
금융 수입 | 1,339 | 230 | 748 |
금융 비용 | (156) | (95) | (260) |
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소득세 전 이익 | 27,396 | 23,220 | 52,099 |
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소득세 비용 | (7,317) | (5,176) | (9,695) |
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해당 기간 동안의 이익 | 20,079 | 18,044 | 42,404 |
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보통주당 수익 5p: |
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-기본 | 4.8p | 4.3p | 10.2p |
- 희석 | 4.8p | 4.3p | 10.2p |
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모든 금액은 계속 운영과 관련이 있습니다.
배당금 지급 및 신고/제안 내역은 주석 4에 기재되어 있습니다.
연결포괄손익계산서
31년 2023월 XNUMX일에 종료된 반기 동안
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반년 종료 31.12.23 £'000
| 반년 종료 31.12.22 £'000
| 출간연도 종료 30.06.23 £'000
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해당 기간 동안의 이익 | 20,079 | 18,044 | 42,404 |
기타포괄소득 세액공제: |
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순확정급여부채의 재측정 | (959) | (4,948) | (7,237) |
외화 환산 차이 | 439 | 63 | (1,818) |
위험회피수단의 공정가치 변동 | (1,086) | (1,297) | (135) |
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세액공제 후 당기 기타포괄손익 |
(1,606) |
(6,182) | (9,190) |
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해당 기간 총 포괄 손익 | 18,473 | 11,862 | 33,214 |
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지배기업의 주주 귀속 | 18,473 | 11,862 | 33,214 |
연결 대차대조표
31년 2023월 XNUMX일 현재
반년 종료 31.12.23 £'000 | 반년 종료 31.12.22 £'000 | 출간연도 종료 30.06.23 £'000 | |
비유동 자산 |
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무형 자산 | 3,232 | 3,232 | 3,232 |
재산, 식물 및 장비 | 36,116 | 36,265 | 35,887 |
자산 사용권 | 6,804 | 8,914 | 7,164 |
퇴직금 의무 | - | 499 | - |
이연 법인세 | 118 | 236 | 114 |
46,270 | 49,146 | 46,397 | |
유동 자산 |
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재고 | 83,118 | 93,863 | 87,440 |
매출 채권 및 기타 채권 | 35,623 | 39,053 | 46,979 |
파생 금융 상품 | 60 | 286 | 773 |
현재 세금 현금 및 현금성 자산 | 1,012 62,420 | - 44,325 | 699 63,222 |
182,233 | 177,527 | 199,113 | |
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총자산 | 228,503 | 226,673 | 245,510 |
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유동 부채 |
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매입 채무 및 기타 채무 | 49,173 | 49,788 | 60,738 |
파생 금융 상품 | 735 | 1,406 | 213 |
현재 세금 | - | 2,198 | 422 |
리스 부채 | 2,586 | 2,906 | 2,696 |
| 52,494 | 56,298 | 64,069 |
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비유동 부채 |
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퇴직금 의무 | 2,240 | - | 1,460 |
기타 채무 | 408 | 432 | 400 |
리스 부채 | 4,359 | 6,093 | 4,582 |
우선주 | 200 | 200 | 200 |
이연 법인세
| 62 | 1,425 | 585 |
| 7,269 | 8,150 | 7,227 |
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총 부채 | 59,763 | 64,448 | 71,296 |
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순자산 | 168,740 | 162,225 | 174,214 |
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공평 |
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자기자본 | 20,838 | 20,838 | 20,838 |
자기자본(B주) | 160 | 160 | 160 |
20,998 | 20,998 | 20,998 | |
프리미엄 계정 공유 | 13 | 13 | 13 |
통화 환산 준비금 | 4,533 | 5,975 | 4,094 |
헤징 준비금 | (280) | (356) | 806 |
이익 잉여금 | 143,476 | 135,595 | 148,303 |
지배기업의 주주에게 귀속되는 총자본 | 168,740 | 162,225 | 174,214 |
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연결 현금 흐름표
31년 2023월 XNUMX일에 종료된 반기 동안
반년 종료 31.12.23 £'000 | 반년 종료 31.12.22 £'000 | 출간연도 종료 30.06.23 £'000 | |
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해당 기간 동안의 이익 | 20,079 | 18,044 | 42,404 |
소득세 비용 | 7,317 | 5,176 | 9,695 |
소득세 전 이익 | 27,396 | 23,220 | 52,099 |
금융 비용 | 156 | 95 | 260 |
금융 수입 | (1,339) | (230) | (748) |
영업 이익 | 26,213 | 23,085 | 51,611 |
유형자산의 감가상각 | 1,859 | 1,712 | 3,461 |
사용권 자산의 감가상각 | 1,496 | 1,578 | 3,060 |
유형자산 매각차익 | (20) | (26) | (84) |
확정급여형 연금제도 서비스 비용 | - | 154 | 178 |
확정 혜택 연금 제도 고용주 기여금 지급 |
(531) |
(975) |
(1,942) |
금융상품의 공정가치 변동 | - | (564) | (776) |
공유 기반 지불 | 16 | 12 | 26 |
재고 감소 | 4,832 | 19,008 | 22,966 |
매출채권 및 기타수취채권의 감소 | 11,669 | 11,975 | 3,031 |
(감소) 매출채권 및 기타채무 | (11,961) | (33,225) | (20,365) |
영업현금유입 | 33,573 | 22,734 | 61,166 |
납부한 세금 | (8,234) | (4,957) | (11,900) |
영업활동으로 인한 현금유입 | 25,339 | 17,777 | 49,266 |
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받은이자 | 1,339 | 99 | 467 |
부동산, 플랜트 및 장비 구매 | (2,058) | (1,143) | (2,854) |
재산, 식물 및 장비의 처분 수익 | 38 | 47 | 134 |
투자활동으로 인한 현금유출 | (681) | (997) | (2,253) |
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이자 지급 | (10) | (7) | (36) |
임대 이자 지급 | (114) | (88) | (224) |
리스자본금 지급 | (1,474) | (1,573) | (3,015) |
배당금 지급 | (23,963) | (22,921) | (32,298) |
발행주식수 | - | 14 | 14 |
재무활동으로 인한 현금유출 | (25,561) | (24,575) | (35,559) |
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순(감소)/현금및현금성자산 증가 | (903) | (7,795) | 11,454 |
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현금 및 현금등가물에 대한 환율차이의 효과 |
101 |
(24) |
(376) |
기간 시작의 현금 및 현금성 자산 | 63,222 | 52,144 | 52,144 |
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기말의 현금 및 현금성 자산 | 62,420 | 44,325
| 63,222 |
중간 결과에 대한 참고 사항
31년 2023월 XNUMX일에 종료된 반기 동안
1. | 준비의 기초
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중간재무제표는 감사를 받지 않았으며 2006년 회사법에 정의된 법정 계정을 구성하지 않습니다.
연결 중간보고서 작성에 적용된 주요 회계 정책은 30년 2023월 XNUMX일에 종료된 연도의 연차 보고서 및 계정에 명시된 내용입니다.
30년 2023월 30일에 종료된 연도의 수치는 해당 연도의 그룹 감사 계정에 대한 요약 설명입니다. 2023년 XNUMX월 XNUMX일에 종료된 회계연도의 재무제표는 감사를 거쳐 기업등록기관에 전달되었습니다.
AIM 규정에서 허용하는 바와 같이 이사들은 중간재무제표 작성 시 IAS 34 '중간재무보고'의 요구사항을 채택하지 않았습니다. 따라서 중간재무제표는 IFRS를 완전히 준수하지 않습니다.
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2. | 과세
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소득세는 26.7%(2022년: 22.3%)의 세율로 제공되었습니다.
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3. | 주당 순이익 | |||
반년 종료 31.12.23 £'000 |
반년 종료 31.12.22 £'000 |
출간연도 종료 30.06.23 £'000 | ||
해당 기간 동안의 이익 | 20,079 | 18,044 | 42,404 | |
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가중평균 발행주식수 | 416,754,052 | 416,751,498 | 416,752,764 | |
발행주식선택권의 희석효과 | 33,687 | 23,830 | 21,390 | |
희석가중평균주수 | 416,787,739 | 416,775,328 | 416,774,154 | |
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보통주 5천원당 기본이익 | 4.8p | 4.3p | 10.2p | |
보통주 5p당 희석이익 | 4.8p | 4.3p | 10.2p |
4. | 배당 | |||
반년 종료 31.12.23 £'000 | 반년 종료 31.12.22 £'000 | 출간연도 종료 30.06.23 £'000 | ||
지급된 주식 배당금:
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30년 2022월 XNUMX일에 종료된 연도의 최종 배당금 | - | 22,921 | 22,921 | |
30년 2023월 XNUMX일에 종료되는 회계연도의 중간배당 | - | - | 9,377 | |
30년 2023월 XNUMX일에 종료된 연도의 최종 배당금 | 23,963 | - | - | |
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23,963 | 22,921 | 32,298 | ||
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기말후 주식배당 선언/제안
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중간 배당금 | 10,419 | 9,377 | - | |
최종 배당금 | - | - | 23,963 |
지급 및 선언/제안된 주당 배당금은 다음과 같습니다.
5.50년 30월 2022일에 종료된 연도의 최종 배당금 16p, 2022년 XNUMX월 XNUMX일에 지급됨 2.25년 30월 2023일 종료 연도의 중간 배당금 9p, 2023년 XNUMX월 XNUMX일 지급 5.75년 30월 2023일에 종료된 연도의 최종 배당금 15p, 2023년 XNUMX월 XNUMX일에 지급됨
2.50p interim dividend for the year ended 30 June 2024, payable on 14 June 2024, to those shareholders on the register at 17 May 2024
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6.
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중간 결과 사본
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중간 결과 사본은 요청한 주주들에게 발송되었습니다. 추가 사본은 회사 등록 사무소(Beechfield, Hollinhurst Road, Radcliffe, Manchester, M26 1JN)와 회사 웹사이트(www.jameshalstead.com)에서 얻을 수 있습니다. |
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