A FLOORING manufacturer is set for expansion as investors celebrate 30 years of rising dividend payouts.

Radcliffe-based James Halstead, which produced specialist flooring for the Antarctic polar research station and the Everest base camp, has again posted record results.

Despite rising costs and tough trading conditions, it saw sales reach £112.4 million for the year ending June 30, compared with £107.7 million the previous year. Pre-tax profits increased from £12.8m to £13.8m.

The company, with 550 employees at its Hollinhurst Road base, is continuing to expand with a 10-year growth programme.

There are plans to extend its UK warehousing and distribution facilities and demolish old buildings on the Radcliffe site to make way for new facilities.

Chief executive Mark Halstead said: "Bury Council have given planning permission for a 35,000 square feet addition to our site and we are looking to expand our workforce. We operate 24 hour hours a day.

"We still need further expansion space which will be within Manchester, although preferably it would be Radcliffe or Bury."

Mr Halstead said the combined effects of increases in raw material prices and energy costs had held back profit growth.

Chairman Geoffrey Halstead, whose grandfather registered the firm as a company in 1915, said: "This current year marks the 30th year of improved dividend.

"Given the climate of substantial increases in raw material prices and energy costs, I and the Board feel this is a creditable performance."

Halstead has provided flooring for hospitals throughout the country, and also supplies schools, shops, pubs and prisons.

Almost all its employees are shareholders, and own more than 10 per cent of the business.

It also has a growing international market, with products sold in more than 100 countries.

Exports accounted for £61million of sales this year.