James Latham revenue still in line with forecasts

28th Mar 2024 12:43

(Sharecast News) - James Latham said in a trading update on Thursday that fiscal year revenue had remained in line with market forecasts, with stable cost prices seen for both timber and panels.

The AIM-traded firm said ongoing shipping issues in the Red Sea, however, had led to delays and increased costs for certain imported products.

Despite that, the board said the situation was not currently a cause for significant concern, adding that sales volumes had mirrored those of the previous year.

While overheads had been effectively managed, James Latham said they had experienced a slight increase due to inflationary pressures.

Additionally, ongoing investments in depot enhancements to bolster service levels had contributed to the uptick.

The company anticipated that its profit before tax would align with market expectations, maintaining a strong balance sheet and cash position.

James Latham said it would release its preliminary results for the financial year ending 31 March on 27 June.

At 1225 GMT, shares in James Latham were flat at 1,125p.

Reporting by Josh White for Sharecast.com.