James Latham PLC
("James Latham" or the "Company")
Trading Statement
The Board of James Latham provides the following trading statement ahead of the Company's results for the year ended 31 March 2024.
Revenue for the year to 31 March 2024 remains in line with market expectations. Cost prices of both timber and panels are relatively stable. The ongoing issues affecting shipping in the Red Sea have caused some delays and increased costs for some of our imported products, although this is currently not causing concern. Sales volumes are very similar to the previous year.
Overheads have been well controlled but are slightly higher due to inflationary increases and our continuing investment in our depots to improve service levels. We anticipate that our profit before tax will be in line with market expectations. 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 2024 on 27 June 2024.
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended.
For further information please visit www.lathamtimber.co.uk. or contact:
| James Latham plc | Tel: 01442 849 100 |
| Nick Latham, Chairman |
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| David Dunmow, Finance Director |
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| SP Angel Corporate Finance LLP | Tel: 0203 470 0470 |
| Matthew Johnson / Charlie Bouverat (Corporate Finance) |
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| Rob Rees (Corporate Broking) |
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