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LONDON (Alliance News) - Timber products company James Latham PLC on Wednesday said it expects revenue to beat markets expectations in the year that ended on Tuesday and profit to be in line.
In a short trading statement, the company said its revenue for the year to the end of March is set to be ahead of market expectations, with pretax profit to be in line.
It expects to publish its full-year results on June 24.
Northland Capital Partners is expecting the company to report a pretax profit of GBP9.7 million for the year, according to data on Morningstar.
The company had reported a pretax profit of GBP10.5 million in its previous financial year, up from GBP7.0 million a year before that, buoyed by a 14% rise in revenue to GBP163.1 million and GBP1.8 million of exceptional gains related to its pension scheme. In the first half of the year that just ended, James Latham reported a pretax profit of GBP5.2 million, up from GBP4.2 million in the first half of the previous year as revenue rose 8.4% to GBP82.2 million.
Shares in the company were down 1.8% to 611.2001 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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