29th Jun 2022 13:56
James Latham PLC - Hertfordshire-based distributor of timber, panels and decorative surfaces - Trebles pretax profit in its financial year that ended March 31 as it recovers from Covid. Pretax profit jumps to GBP58.0 million from GBP18.6 million a year ago. "There were significant increases in the market prices for our products, mainly in the first half of the year," says Chair James Latham. Revenue grows to GBP385.4 million from GBP250.2 million. Proposes a final dividend of 27.0 pence per share, up from 15.5p. Brings total dividend to 33.5p from 21.2p a year ago.
Despite positive results, sees "increasing uncertainty surrounding the macroeconomic outlook and continuing inflationary pressures on our overheads". Says firm will relocate its head office to a more modern office to further develop its warehouse at Hemel Hempstead.
Current stock price: 1,403.84 pence, up 3.8% on Wednesday
12-month change: up 20%
By Tom Budszus; [email protected]
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