Latham reports good fortunes

Timber distributor James Latham today announced a 5.3% rise in profits, although chairman Roger Latham warned of fluctuating raw materials costs.

The company’s profits in the six months to 30 September rose to £2.9m, compared to £2.75m in the same period in 2005. Its sales grew 3.5% to £49m.

However, chairman Roger Latham said the company is wary of price rises. He said: “Whilst we expect prices to remain generally firm and a continuation of some restrictions in supply, there are signs of weakness in some countries that are currently not major suppliers to the UK market. We are conscious that trading conditions in terms of supply, demand and prices can change rapidly so we are keeping a watchful eye on the situation to try to minimise any downside affects.”

Roger Latham also announced his retirement from the company. He will be succeeded next month by Peter Latham.