Revenues at leading UK timber products distributor James Latham grew 5.5% to £196.8m for the six months ended September 30, 2025, compared to the same period last year.
In a update posted on November 27, James Latham chairman Nick Latham said cost prices on both timber and panels have remained stable throughout the first half of the year.
“Volumes are up 6.8% compared with the same period last year, across both panels and timber products, with a significant element of this growth coming from an expansion of our LDT timber pack sales business,” he said.
Operating profit was £11.1m, down £0.2m compared with £11.3m profit for the same period last year. Profit before tax was £12.8m compared with £13.6m for the same period last year.
As of 30 September 2025, net assets were £225.2m (2024: £213.8m). Inventory levels of £70.9m are 6.0% higher than the same period last year in line with increases in volumes traded. Bad debts for this period are lower than the same period last year.
Cash and cash equivalents have decreased to £59.8m (2024: £67.5m) due to capital expenditure of £8m in the first half of the year, most of which relates to the National Distribution Centre.
The second half of 2025/26 has started with similar volumes to the previous six-month period to 30 September 2025, with similar margins.
“We expect that the stability in product prices will continue,” continued Mr Latham. “Our customers still have reasonable order books but there is a degree of nervousness about the economic outlook.
“The merchant sector is still finding growth difficult, in part due to the weakness of the DIY and house building and construction sectors.”
Construction has now started on the National Distribution Centre, located in Chatteris, with construction anticipated to be complete by the end of 2026 with the aim of fully trading from the site by the end of 2027.
James Latham has strengthened the senior management team by employing an operations director and a business development director who will drive the development of the National Distribution Centre and the business opportunities that this will bring.
