Distributor warns that strong half-year results may not be sustainable.
Product supplier James Latham has exceeded its predictions for the six months to 30 September, with turnover up 10.8% to £60.3m. Pre-tax profits rose 35.3% to almost £2.8m.
Latham said that its timber and panel products distribution business, Lathams Ltd, “encountered more difficult trading conditions compared to last year,” while its ceiling, drylining and partitioning systems business, Nevill Long, improved both its market share and its margins in the same six months.
In a statement earlier in the month Latham said that it expected the second six months of the year to be tough, saying: “Trading is expected to be less buoyant in the second six months due to a tighter current UK economic environment but the outcome for the full year is expected to meet the Company's broker's forecast.”