James Halstead, the flooring specialist, had revenues of ã227.3m for the year ended June 30 2015, up 1.7% on the previous year.

Profit before tax was ã44.2m (2014: ã41.8m) - up 5.8%.

The final dividend per ordinary share proposed of 7.858p (2014: 7.0p) - up 12.3%.

Mark Halstead, chief executive, said: "Our progress in our centenary year has brought about record flooring turnover and record profit against a difficult market backdrop. Growth has been hard won and the final result is satisfying given the continued strength of sterling.

"We have consolidated our position as UK market leader and UK growth of 10% has been the bedrock of the year's results. This has been a fine performance and our factory in Teesside continues to be crucial to UK growth.

"Europe continues to represent a sizeable portion of our business (some 40%) and it is pleasing to note that this has grown by 5% in local currency. Our Australian business has improved on the disappointing results of the last two years and in local currency increased turnover by 15%.

"Gross margins are slightly up on last year, which, given the pressure of competition and the strength of sterling is encouraging. Manufacturing efficiencies, stable raw material prices and economies of scale as Teesside output steadily grows have helped to protect margins, as indeed has our Recofloor recycling initiative.

"We have just published our 10th sustainability report and over the last decade our energy efficiency, reduced water usage, waste management and product stewardship results are industry leading."