Source - SMW
Timber, panel and decorative surfaces distributor James Latham said revenue in the first five months of its financial year had slumped 20%.

A positive trending of monthly revenue improvements, however, had continued, with July and August being 'very similar' to last year. 

'Revenues from commodity products have increased in a period where added value business has been more challenging,' chairman Nick Latham said in AGM speech notes.

'It is therefore encouraging to report that margins have improved a little compared to last year.'

'Costs have been well controlled throughout this difficult period and the company remains profitable, although currently at a lower level than last year.'

Latham said the company's customers in most market sectors were busy at the moment.

'Forward prices of commodity products are rising with some extended lead times being seen,' he said.

'We are very mindful of the potential impact of Brexit and also the possibility of further spikes in Covid-19 cases causing local lock-downs and the affect that this may have on the wider economy.'

'We are confident that our disaster recovery plans for these two risks will help manage any impact on the company.'

At 1:36pm: (LON:LTHM) Latham James PLC share price was 0p at 835p

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