RECORD financial results and a second successive Queen's industry award have combined to make 2007 the most successful year ever in the history of Radcliffe-based James Halstead.

The unprecedented yearly trading figures, which saw pre-tax profits rise sharply by 33 per cent, were unveiled to co-incide with the awarding of the Queen's Award for Enterprise at a gala dinner.

Representatives of each of the Hollinhurst Road firm's departments were present at the event, held at Bolton's Reebok Stadium. Chairman Mr Geoffrey Halstead, who is celebrating 60 years with the firm, was presented with the award from the Lord Lieutenant, Warren J Smith.

The preliminary announcement of audited results for the year ended June 30 saw turnover increase by 13 per cent, from £126 million to £142.9 million. Pre-trax profits jumped 33 per cent from £17.48 million to £23.3 million and the board proposes to increase the final dividend to 11.25p, an increase of 40.6 per cent.

Reflecting on the figures, the chairman said: "The results for the year to June 30 show the highest sales and profit ever reported by the Group. I believe that these results are commendable and reflect our simple approach of sourcing and producing the right products, effectively servicing our customers' needs, defending our market position and maintaining our reputation and credibility for the future.

"In April, 2007, the group gained recognition by receiving the Queen's Award for Enterprise in the category of innovation and continuous development. This was in respect of our market leading Polysafe range of slip resistant flooring and followed the Queen's Award in 2006 for international trade. I believe these awards recognise years of effort and hard work by our workforce."

Sales of Halstead's leading Polyflor flooring products have enjoyed an increasing global market place and used in innovative installations, including the Grand Egyptian Museum in Giza and a 25,000 tonne nuclear powered Russian ice breaker vessel.

In the USA, sales are 60 per cent ahead of last year. Sales growth in the UK has been solid and some ten per cent ahead of last year.

Chief executive Mark Halstead commented: "While there were some markets reporting less than double digit growth, it is encouraging that our product offering and our strategy were effective from Norway to Australia and from Canada to China."

This year also saw significant investment at Halstead's sites in Radcliffe and Whitefield with new production equipment installed to upgrade facilities as well as the addition of new distribution facilities. The company employs more than 600 personnel.

Mr Halstead continued: "This year was the most successful year in our group's history. Overall, having regard to the operations we have around the globe, I am confident that this excellent year can be consolidated in the next year and look forward to further progress."

The business, which commands a massive site stretching to 27 acres, was established in 1915 by James Halstead and the firm's early product line was woven cotton textiles, both dyed and waterproofed.

Later, they were to turn to the production of rubberised fabric used in the manufacture of rain coats. At the end of the Second World War, Halstead's faced a shortage of raw materials, particularly rubber. The company experimented with new materials, predominantly PVC, and succeeded with a unique formula which was to give birth to Polyflor sheet vinyl flooring.