James Latham confident despite slip in revenue

Timber and panel products distributor James Latham said in an update on Wednesday that its revenue for the first four months of the financial year totalled £127m, slightly down from £128m in the same period last year.

The AIM-traded company, which was holding its annual general meeting, said its volumes increased by 3.1% year-on-year, however.

Its profit margins remained consistent with the second half of last year, and overheads and profits were said to be in line with market expectations.

James Latham also noted that its cash balances remained strong, with debtor days and bad debts stable compared to the previous year.

The company highlighted that most of its customers were busier and more confident than they were at the same time last year.

James Latham said it would announce interim results for the six months ending 30 September on 28 November.

At 1157 BST, shares in James Latham were up 0.37% at 1,350p.

Reporting by Josh White for Sharecast.com.