James Latham expects annual sales for 2023-24 to be close to previous financial year

In a trading update ahead of the company's results for the year ended March 31, 2024, James Latham said annual revenue “remains in line with market expectations”. 

“Cost prices of both timber and panels are relatively stable. The ongoing issues affecting shipping in the Red Sea have caused some delays and increased costs for some of our imported products, although this is currently not causing concern. Sales volumes are very similar to the previous year.

“Overheads have been well controlled but are slightly higher due to inflationary increases and our continuing investment in our depots to improve service levels. We anticipate that our profit before tax will be in line with market expectations. The Company's balance sheet and cash balances remain strong.”

The Board plans to report the company's preliminary results for the year ended March 31, 2024, on June 27, 2024.