Latham Timber Share News (LTHM)

Timber merchant James Latham says revenue during the first four months of its financial year is down nearly 9% on a year ago as the recession dulls activity.The company, which has seen its share price rally almost 60% since March, blamed the weaker economy and some lower product prices.Although results for the half-year to September are expected to be below those of last year, they're still seen beating figures predicted before the new year began in April."The trading environment remains challenging," the group said in its AGM statement."There are signs that timber prices have reached the bottom and are rising in some areas. Generally our customers have reasonable order books for the next few months but it is difficult to predict the level of activity likely during the winter months. Some sectors remain very quiet."It added that significant cash reserves mean the business is well placed to weather uncertain trading conditions.Results for the six month ended September are due on 26 November.