AGM Statement

RNS Number : 9582M

Latham(James) PLC

24 August 2011

 

24 August 2011

 

James Latham plc

(the "Company")

Stock Exchange Announcement and Statement to the 2011 AGM

The Directors intend to issue the following statement to shareholders attending today's AGM:

Revenue for the first four months of the current financial year, namely April to July 2011 is 8% higher on a like for like basis than the same period last year. This is the result of increases in both volumes traded and higher product prices. As expected, margins are lower and continue to be under pressure due to competition. However, overall we continue to trade in line with market expectations.

The trading environment remains challenging. Levels of activity are mixed with some customers very busy and others quiet. Some sectors are showing year-on-year growth, while others are slowing.  Bad debts are at normal levels but the outlook continues to give concern.

The Directors have continued to invest in the business by increasing the warehouse space available for the Hemel Hempstead depot and plans are well advanced to relocate the Ossett depot. DLH UK Limited which now trades as LDT is producing positive results in line with our expectations.

The Company is well placed to weather these uncertain trading conditions, with a strong financial base, a wide range of customers operating in many sectors of the economy and an experienced team.

James Latham plc's interim results for the six months to the end of September 2011 will be announced on 24 November 2011.

For further information please visit www.lathams.co.uk or contact:

James Latham Plc	Tel:  [phone]
Peter Latham, Chairman
David Dunmow, Finance Director
Northland Capital Partners - Nomad & Broker	Tel:  [phone]
Shane Gallwey / Tim Metcalfe

 

END

 

 

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