James Halstead

JHD · AIM · Construction and Materials · mcap £530m · 128.0p

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Financials · balance sheet 31 Dec 25 · last twelve months · today’s market value

Source: results 31 Mar 26 ↗

Key figures Cash & debt Profit & cash flow Valuation Returns & quality Latest half-year

Market cap: £533.0m
Owner’s net cash: £70.8m
Net cash / market cap: 13%
EV ex leases: £462.2m
Revenue: £259.1m
Operating profit: £49.4m
Free cash flow after leases: £41.4m
EV / EBIT: 9.4×
FCF yield: 7.8%
Price / tangible book: 3.03×
ROCE: 26%
Net income (owners): £37.8m

Hover or tap a figure for its formula and the values used – the names are the line names of the key figures below. Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

Key figures As reported

Income statement Balance sheet Cash flow

Annual Half-yearly

Standardised line items in £m, comparable across companies; when a later report restated a period, the later figure is shown and marked ^r (hover for the figure first reported). Italic = calculated (LTM, H2 = FY − H1); a year of other than 12 months is marked (15m). Hover a value for its source.

Trading update 22 Jul 264 figures since the last report

Sales marginally below prior year; profit expected 10-15% down due to cost pressures and LVT headwinds offset by UK and emerging market growth.

Expected sales vs prior year	marginally below
Expected profit vs prior year	approximately 10-15% below
Middle East sales growth	54% ahead of comparatives
South Africa sales growth	25% ahead of comparatives

As stated by the company, unaudited. Read it →

Latest report: H1 Dec 25 (six months to 31 Dec 25), published 31 Mar 26 · read the results ↗

Source ↗

	Half-year ended 31.12.25 £'000	Half-year ended 31.12.24 £'000	Year ended 30.06.25 £'000
Revenue	127,197	130,090	261,967
Operating profit	23,594	27,065	52,821
Finance income	1,232	1,532	2,584
Finance cost	(156)	(134)	(268)
Profit before income tax	24,670	28,463	55,137
Income tax expense	(6,516)	(7,492)	(14,525)
Profit for the period	18,154	20,971	40,612
Earnings per ordinary share of 5p
- basic	4.4p	5.0p	9.7p
- diluted	4.4p	5.0p	9.7p

Source ↗

	Half-year ended 31.12.25 £'000	Half-year ended 31.12.24 £'000	Year ended 30.06.25 £'000
Non-current assets
Intangible assets	3,232	3,232	3,232
Property, plant and equipment	34,934	35,370	34,730
Right of use assets	8,579	5,674	4,420
Retirement benefit asset	3,348	-	555
Deferred tax	1,503	221	1,585
Total non-current assets	51,596	44,497	44,522
Current assets
Inventories	78,074	87,374	80,401
Trade and other receivables	29,976	33,995	45,238
Derivative financial instruments	189	2,117	193
Current tax Cash and cash equivalents	63,683	1,527	68,369
Total current assets	181,112	189,293	195,728
Total assets	232,708	233,790	240,250
Current liabilities
Trade and other payables	40,380	49,967	48,096
Derivative financial instruments	298	83	1,936
Lease liabilities	3,194	2,704	1,940
Total current liabilities	43,872	52,754	51,972
Non-current liabilities
Retirement benefit liability	-	561	-
Other payables	-	339	326
Lease liabilities	5,663	3,115	2,747
Preference shares	200	200	200
Deferred tax	3,918	1,155	3,006
Total non-current liabilities	9,781	5,370	6,279
Total liabilities	53,653	58,124	58,251
Net assets	179,055	175,666	181,999
Equity
Equity share capital	20,839	20,839	20,839
Equity share capital (B shares)	160	160	160
	20,999	20,999	20,999
Share premium account	55	55	55
Currency translation reserve	2,537	1,814	1,754
Hedging reserve	359	1,389	(1,062)
Retained earnings	155,105	151,409	160,253
Total equity attributable to shareholders of the parent	179,055	175,666	181,999

Source ↗

	Half-year ended 31.12.25 £'000	Half-year ended 31.12.24 £'000	Year ended 30.06.25 £'000
Profit for the period	18,154	20,971	40,612
Income tax expense	6,516	7,492	14,525
Profit before income tax	24,670	28,463	55,137
Finance cost	156	134	268
Finance income	(1,232)	(1,532)	(2,584)
Operating profit	23,594	27,065	52,821
Depreciation of property, plant & equipment	2,107	1,883	3,987
Depreciation of right of use assets	1,650	1,406	3,542
Profit on sale of property, plant and equipment	(9)	(79)	(75)
Defined benefit pension scheme employer contributions paid	(250)	(250)	(500)
Change in fair value of financial instruments	(75)	(65)	46
Share based payments	22	24	47
Decrease /(increase) in inventories	3,268	(6,889)	180
Decrease /(increase) in trade and other receivables	15,995	9,699	(1,794)
(Decrease) in trade and other payables	(9,370)	(7,491)	(8,240)
Cash inflow from operations	36,932	25,303	50,014
Taxation paid	(6,708)	(8,162)	(14,294)
Cash inflow from operating activities	30,224	17,141	35,720
Interest received	1,212	1,528	2,570
Purchase of property, plant and equipment	(2,185)	(2,596)	(3,881)
Proceeds from disposal of property, plant and equipment	33	132	143
Cash outflow from investing activities	(940)	(936)	(1,168)
Interest paid	(9)	(7)	(29)
Lease interest paid	(147)	(127)	(239)
Lease capital paid	(1,641)	(1,422)	(3,430)
Equity dividends paid	(25,216)	(25,007)	(36,469)
Cash outflow from financing activities	(27,013)	(26,563)	(40,167)
Net increase /(decrease) in cash and cash equivalents	2,271	(10,358)	(5,615)
Effect of exchange differences on cash and cash equivalents	124	(241)	(298)
Cash and cash equivalents at start of period	68,369	74,282	74,282
Cash and cash equivalents at end of period	70,764	63,683	68,369

	LTM Dec 25	FY Jun 25
Revenue to operating profit
Revenue	259.1	262.0
Operating profit	49.4	52.8
Depreciation (owned assets)	4.2	4.0
Depreciation (right-of-use)	3.8	3.5
Share-based payments	0.0	0.0
Operating profit to net income
Finance costs	(0.3)	(0.3)
Profit before tax	51.3	55.1
Tax	(13.5)	(14.5)
Net income (owners)	37.8	40.6
Per share
EPS basic	9.1p	9.7p
EPS diluted	9.1p	9.7p

	H1 Dec 25	vs H1 Dec 24	H2 Jun 25	H1 Dec 24
Revenue to operating profit
Revenue	127.2	−2%	131.9	130.1
Operating profit	23.6	−13%	25.8	27.1
Depreciation (owned assets)	2.1	+12%	2.1	1.9
Depreciation (right-of-use)	1.6	+17%	2.1	1.4
Share-based payments	0.0	n/m	0.0	0.0
Operating profit to net income
Finance costs	(0.2)	+16%	(0.1)	(0.1)
Profit before tax	24.7	−13%	26.7	28.5
Tax	(6.5)	−13%	(7.0)	(7.5)
Net income (owners)	18.2	−13%	19.6	21.0
Per share
EPS basic	4.4p	–	4.7p	5.0p
EPS diluted	4.4p	–	4.7p	5.0p

	LTM Dec 25	FY Jun 25
Operating activities
Cash from operations	48.8	35.7
Interest paid	(0.0)	(0.0)
Tax paid	(12.8)	(14.3)
Investing activities
Capex (PP&E)	(3.5)	(3.9)
Financing activities
Lease principal paid	(3.6)	(3.4)
Lease interest paid	(0.3)	(0.2)
Dividends paid	(36.7)	(36.5)

	H1 Dec 25	vs H1 Dec 24	H2 Jun 25	H1 Dec 24
Operating activities
Cash from operations	30.2	+76%	18.6	17.1
Interest paid	(0.0)	n/m	(0.0)	(0.0)
Tax paid	(6.7)	−18%	(6.1)	(8.2)
Investing activities
Capex (PP&E)	(2.2)	−16%	(1.3)	(2.6)
Financing activities
Lease principal paid	(1.6)	+15%	(2.0)	(1.4)
Lease interest paid	(0.1)	+16%	(0.1)	(0.1)
Dividends paid	(25.2)	+1%	(11.5)	(25.0)

	31 Dec 25	30 Jun 25
Non-current assets
Other intangibles	3.2	3.2
Property, plant & equipment	34.9	34.7
Non-current assets	51.6	44.5
Current assets
Inventories	78.1	80.4
Trade receivables	30.0	45.2
Cash	70.8	68.4
Current assets	181.1	195.7
Total assets	232.7	240.2
Current liabilities
Trade payables	40.4	48.1
Lease liabilities, current	3.2	1.9
Current liabilities	43.9	52.0
Non-current liabilities
Lease liabilities, non-current	5.7	2.7
Pension surplus / (deficit)	3.3	0.6
Non-current liabilities	9.8	6.3
Total liabilities	53.7	58.3
Equity
Total equity	179.1	182.0

	31 Dec 25	30 Jun 25	31 Dec 24
Non-current assets
Other intangibles	3.2	3.2	3.2
Property, plant & equipment	34.9	34.7	35.4
Non-current assets	51.6	44.5	44.5
Current assets
Inventories	78.1	80.4	87.4
Trade receivables	30.0	45.2	34.0
Cash	70.8	68.4	63.7
Current assets	181.1	195.7	189.3
Total assets	232.7	240.2	233.8
Current liabilities
Trade payables	40.4	48.1	50.0
Lease liabilities, current	3.2	1.9	2.7
Current liabilities	43.9	52.0	52.8
Non-current liabilities
Lease liabilities, non-current	5.7	2.7	3.1
Pension surplus / (deficit)	3.3	0.6	–
Non-current liabilities	9.8	6.3	5.4
Total liabilities	53.7	58.3	58.1
Equity
Total equity	179.1	182.0	175.7

Read automatically from each results announcement. Check the source before relying on a figure.

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Company filings. Not investment advice.