AGM Statement

RNS Number : 1913M

Latham(James) PLC

21 August 2013

 

 

James Latham plc (the "Company")

Statement to the 2013 AGM

The Directors intend to issue the following statement to shareholders attending today's AGM:

Revenue for the first four months of the current financial year, namely April to July 2013, is 8% higher than the same period last year.  This is largely the result of higher volumes traded, with more large orders delivered directly from manufacturers or the docks.  In addition, sales ex stock have also grown.  Margins are lower than for the same period last year, but similar to the March quarter.  Overall the Company continues to trade in line with market expectations.

The trading environment remains competitive, but after a quiet April, activity levels have improved.  In particular, the timber business has recovered from the disappointing level seen in the March quarter and generally customers appear busier.  Bad debts have remained at a similar level to last year.

We continue to invest in our operations so that we have the capacity to meet higher levels of demand as the UK economy improves.

While the outlook remains uncertain, there are a number of positive signs and our wide spread of customers and strong balance sheet means that we are well placed to take advantage of opportunities.

The Company's interim results for the six months ending 30 September 2013 will be announced on 28 November 2013.

For further information please visit www.lathams.co.uk or contact:

James Latham Plc	Tel:  [phone]
Peter Latham, Chairman
David Dunmow, Finance Director
Northland Capital Partners - Nomad & Broker	Tel:  [phone]
Louis Castro / Matthew Johnson

 

END

 

 

AGMPBMMTMBITBAJ