Bucking the trend.
Profits up for Lathams
Published: 03 December, 2009
HEMEL HEMPSTEAD: Timber company James Latham has reported a 6% increase in half-year operating profits to £3.35m.
During the six months to September 30, turnover was also up, to £58.2m.
Chairman Peter Latham said sales of panel products had staged a welcome recovery, while revenue from timber remained constant.
"Margins continued to improve from the low levels seen at the start of the year and for the six months reported, were ahead of the same period last year," he explained.
"Overheads have also been reduced as a result of the company's cost reduction programme, and improved efficiency has enabled increasing volumes to be handled."