21st Aug 2008 12:33
James Latham plc ("James Latham", the "Company")
Stock Exchange Announcement and Statement to the 2008 AGM
The Directors intend to issue the following statement to shareholders attending today's AGM:
For the first four months of the current financial year, namely April to July 2008, sales are ahead of the same period last year, however margins are lower. This is a result of increased competition for available business and lower prices for replacement stock in some areas. The results for the half-year April to September will be below those of last year but are consistent with current market expectations.
The current trading environment is mixed. While there is much less business from the new build and transport sectors, customers in other areas remain busy. The new Scottish branch started trading during April and has made a very positive start, as has the relocated Fareham branch.
James Latham plc's interim results to the end of September will be announced on 27 November 2008.
The company has a strong financial base, with significant cash reserves, and is well placed to weather what may be difficult trading conditions.
Peter Latham
Chairman
21 August 2008
For Further Enquiries:
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James Latham Plc |
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Peter Latham, Chairman |
Tel: 01442 849 100 |
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David Dunmow, Finance Director |
Tel: 01442 849 100 |
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Blue Oar Securities Plc |
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Jerry Keen, Corporate Broking |
Tel: 0207 448 4492 |
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Mike Coe, Corporate Finance |
Tel: 0117 933 0020 |
Related Shares:
Latham Timber