LONDON (Alliance News) - James Latham PLC said trading in the first four months of its financial year was in line with market expectations, boosted by a 10% increase in revenue.
In a statement released ahead of its annual general meeting, the wood materials distributor said revenue growth was driven by higher volumes, with more large orders delivered directly from manufacturers or the docks.
The company said margins over the four months to the end of July were up on last year, but similar to the previous quarter to March 31.
"The outlook is more positive than we have seen for some time and our wide spread of customers and strong balance sheet means that we are well placed to take advantage of opportunities," the company said.
James Latham said that while the trading environment remains competitive, activity levels continue to improve both for timber and panels.
"We have the capacity to meet higher levels of demand as the UK economy improves, and have plans to upgrade our older premises," it said.
The company said it will announce its interim results on November 27.
James Latham shares were trading 1.2% higher Wednesday afternoon, at 498.50 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Latham Timber (LTHM)