James Latham (AIM:LTHM) told shareholders at its AGM that revenue for the first four months of the current financial year, 1 April to 31 July, rose 9.8% to £146m, up from £133m in the same period last year.
Volumes increased 5.6% over the comparable period, with supplier price increases tied to higher energy and oil costs also contributing to the revenue gain.
The timber and panel products distributor said those price rises have now levelled out, with no further increases expected and no current issues sourcing product globally. Margins have held steady with the second half of the prior financial year, and overheads remain well controlled, leaving net profit in line with market expectations.
Chairman Nick Latham said the results came "despite the backdrop of a weak economy for our sector", noting customers are slightly less confident than a year earlier even as the company continues to find growth opportunities.
Construction of the company's National Distribution Centre remains on plan and on budget, with completion still expected by the end of 2026 and full operation by the end of 2027.
James Latham will announce interim results for the six months to 30 September on 26 November.
News Intelligence what this means for the company
James Latham reported 9.8% revenue growth to £146m in the first four months of FY2027 (April–July), driven by 5.6% volume growth and supplier price increases now levelling out. Net profit came in line with expectations and margins held steady, but the chairman acknowledged a weak economy and slightly less confident customers, tempering the headline growth.
The company is delivering modest volume growth (5.6%) and holding margins despite sector headwinds, but the absence of further price tailwinds and acknowledged customer caution suggest near-term momentum may slow. The National Distribution Centre remains on track for end-2027 operation, a medium-term efficiency lever, but near-term visibility is limited until the interim results on 26 November.
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