James Latham shares up as revenue up nearly 10% between April and July

James Latham PLC on Wednesday announced that revenue rose healthily during the first four months of its current financial year.

The Hemel Hempstead, England-based distributor of timber, panels and decorative surfaces said revenue climbed 9.8% to £146 million between April 1 and July 31, as volumes increased 5.6% on-year.

James Latham reiterated that it saw price increases from some of its suppliers amid higher energy and oil prices, which were also part of why its revenue rose in the four months.

The company said: "These price increases have now levelled out and we are not expecting any further rises. Currently we are not having any issues with supply of product from around the world."

Further, James Latham said that margins remain consistent with the second half of the prior financial year, while overheads remain well controlled and net profit being in line with market expectations.

The company said: "These good results in the first four months have been achieved despite the backdrop of a weak economy for our sector. Our customers are slightly less confident in the economy compared to this time last year, but we continue to identify areas of opportunity to grow the business.

"The construction of the National Distribution Centre is progressing according to plan and in line with budget, and we still expect to complete this by the end of 2026 and to have it fully operational by the end of 2027."

The firm will publish results for the six months to September 30 on November 26.

James Latham shares rose 3.7% to 1,078.00 pence each on Wednesday morning in London.

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