James Halstead plc, a manufacturer and international distributor of commercial floor coverings, has announced that half year profits are expected to grow by as much as 20%.

According to its latest trading update ahead of its interim results for the half-year to 31 December 2023, the company will, despite softening of sales demand in some European markets, report profits in the region of 15-20% ahead of the prior year comparative and with a “robust” cash balance.

The Board’s expectations for the full year remain “positive and for continued progress on dividend distributions”, the short statement said.

The interim results will be published next month.