LONDON (Alliance News) - James Latham PLC Wednesday said its overall outlook remains positive as revenue continues to be ahead of last year.
In a statement ahead of the timber company's annual general meeting later Wednesday, James Latham said revenue between April and July was 7% higher than the same period a year earlier as a result of increased sales volumes, higher numbers of small orders delivered from its warehouses and from direct sales to its suppliers growing.
"The trading environment remains competitive, but activity levels continue to improve, both for timber and panels. Generally customers appear busier. Bad debts have returned to a more normal level compared to the high levels seen in the same period last year," it said in a statement.
"The outlook remains positive and our wide spread of customers and strong balance sheet means that we are well placed to take advantage of opportunities," it added.
To meet extra demand, the company is currently looking to relocate its Yate and Wigston warehouses to a larger sites and has already increased capacity at its warehouses in Hemel Hempstead and Thurrock, all in the UK.
James Latham will release its results for the six months ended September on November 26.
James Latham shares were down 0.7% to 700.00 pence per share on Wednesday.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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Latham Timber (LTHM)