James Latham FY revenues remain 'strong'

Timber distributor James Latham said on Thursday that full-year revenues remained "strong" and was projected to be "slightly ahead" of market expectations.

James Latham stated cost prices had stabilised and there were "few signs of price weakness" in the immediate future, and while sales volumes were said to be "similar" to the previous year, the company noted that overheads had continued to rise.

The AIM-listed group also highlighted that pre-tax profits were anticipated to be in line with market expectations.

"We continue to monitor and control our overheads closely in the face of high inflation, whilst still investing in our operations to improve service levels," said Latham.

"The company's balance sheet and cash balances remain strong. The board plans to report the company's preliminary results for the year ended 31 March 2023 on 29 June 2023."

As of 0940 BST, Latham shares were up 4.60% at 1,216.0p.

Reporting by Iain Gilbert at Sharecast.com