Operating profits at James Latham decreased by 24.7%

Nov 28, 2008. /Lesprom.com/. Operating profits at James Latham plc decreased by 24.7% to GBP 3.16 million ($4.86 million) for the half year to September 2008, Timber Industry Magazine reported. By despite difficult trading conditions and rises in operating costs, Lathams’ revenue rose to GBP 61.88 million ($95.2 million), up from GBP 59.3 million ($ 91.2 million) a year ago. Chairman Peter Latham said the results had to be compared with an “exceptional” equivalent period last year when margins were particularly strong. He said the company had seen decreases in some market sectors, notably transport and national merchants, but revenue had increased in solid timber products. “Some sectors remain busy but customers are unwilling to commit forward and are placing smaller orders,” he said. “Based on current trading we would expect to meet market expectations for the year but, with the rapidly changing state of the UK economy, it is difficult to predict far ahead.” James Lathey imports and distributes panel products, sawn and further-processed hardwoods and softwoods, and hardwood flooring