
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…
Panel and timber distributor, James Latham plc (LTHM) is “pleased to report very good trading results for the financial year to 31 March 2016”, though notes “year on year growth slowed in the second half year”. Let’s take a look…