Lathams reports profits increase

James Latham plc has reported a 6% increase in half-year operating profits to £3.35m.

A turnover of £58.2m was recorded during the six months to September 30.

Chairman Peter Latham said sales of panel products had staged a welcome recovery, while revenue from timber remained constant.

“Margins continued to improve from the low levels seen at the start of the year and for the six months reported, were ahead of the same period last year,” said Mr Latham.

“Overheads have also been reduced as a result of the company’s cost reduction programme, and improved efficiency has enabled increasing volumes to be handled.”

Mr Latham said the group’s Scottish branch continued to make steady progress and the move to larger premises in Fareham and Dudley were contributing positively to results.

“There are still plenty of opportunities to grow the business profitably and the company is very well placed to take full advantage of these.”