LATHAM (JAMES) PLC — AGM Information 2015

Aug 26, 2015

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RNS Number : 1372X

Latham(James) PLC

26 August 2015

James Latham plc (the "Company")

Statement to the 2015 AGM

The Directors intend to issue the following statement to shareholders attending today's AGM:

Revenue for the first four months of the current financial year, namely April to July 2015, is 7% higher than the same period last year.  This is largely the result of higher volumes traded, with more small orders delivered from our warehouses.  In addition, direct sales from our suppliers have also grown.  Margins are higher than for the same period last year, and higher than the quarter ended 31 March 2015.  Overall the Company is trading in line with full year market expectations.

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.

We have increased our capacity to meet growing demand for our specialist panels with further investment in racking at Hemel Hempstead and Thurrock.  We are in negotiations for a site for the relocation of our Yate warehouse and have identified possible sites for the relocation of our Wigston warehouse.

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.

The Company's interim results for the six months ending 30 September 2015 will be announced on 26 November 2015.

For further information please visit www.lathams.co.uk or contact:

James Latham plc	Tel:  01442 849 100
Peter Latham, Chairman
David Dunmow, Finance Director
Northland Capital Partners - Nomad and Broker	Tel:  020 7382 1100
Matthew Johnson / Edward Hutton

This information is provided by RNS

The company news service from the London Stock Exchange

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