James Latham cites improving timber demand as revenue grows

(Alliance News) - James Latham PLC on Wednesday said demand for timber has continued to rise, reflecting growing customer confidence, helping support revenue growth.

The Hemel Hempstead, England-based distributor of timber, panels and decorative surfaces said revenue in the four months to July 31 rose 4.7% to GBP133 million from GBP127 million a year prior.

Volumes are up 5.9% year-on-year, while margins remain consistent with the second half of the previous year. Overheads and resulting profit are in line with market expectations, the firm added.

James Latham said the demand for solid timber products has continued to improve which has been the "main driver" for the increased volumes during this period.

"Our customers are more confident than at the same period last year with slightly improved order books," the firm said in a trading statement.

Shares in James Latham rose 3.6% to 1,150.00 pence each in London on Wednesday.

Interim results for the six months ending September 30 will be announced on November 27.

By Jeremy Cutler, Alliance News reporter

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