James Latham PLC on Wednesday - Hertfordshire-based distributor of timber, panels and decorative surfaces - Ahead of its annual general meeting, says revenue for the four months of its current financial year from April 1 to July 31, revenue fell 9.9% to GBP128 million from GBP142 million the year before. Notes this represents a reduction in sales per working day of 12% compared to an increase of 15% in the same four-month period a year ago. Adds it continues to see price weakness in some product areas, with average product prices down by 2%. Says margins are back to pre-pandemic average. Profit is in line with expectations.
Current stock price: 1,106.00 pence, down 4.7% on Wednesday
12-month change: down 13%
By Sabrina Penty, Alliance News reporter
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Latham Timber (LTHM)