NEWSFLOW
James Latham (#LTHM) – anticipates FY pre-tax profit “in line with market expectations”, notes inflation pressures
- 2023-03-30 06:52:39
Trade distributor of timber, panels and decorative surfaces, James Latham plc (LTHM) has issued an AGM statement including “revenue for the first four months of the current financial year, namely 1 April to 31 July 2022 is £142m. This represents an increase in sales per working day of 15% compared with the same period last year… cash balances remain strong and with our robust supply chains, this puts us in a good position to take advantage of the opportunities that exist in our market”. So why have the shares currently responded to 1130p, more than 7.5% lower?
Having last year commented on slowing growth, I note results for its year ended 31st March 2017 from panel and timber distribution company James Latham (LTHM)…
Previously, with shares in James Latham (LTHM) at just above 700p, I was deterred by a results statement noting “like for like revenues are 4% higher for April and May than the corresponding period last year… there are some signs that this growth is slowing”. With the shares currently at 670p, I now review following an AGM trading update…