AGM Statement
James Latham plc reported strong performance in the first four months of its financial year, with revenue reaching £146 million, an increase of 9.8% from £133 million in the prior year, driven by a 5.6% rise in volumes and supplier price increases that have now stabilised. Margins remain consistent with the latter half of the previous financial year, overheads are well-controlled, and net profit is in line with market expectations, all achieved despite a challenging economic environment for the sector. The construction of the National Distribution Centre is progressing on budget and on schedule for completion by the end of 2026, with full operation expected by the end of 2027.
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The Chairman of James Latham is pleased to provide the following trading update at the Company's AGM being held today.
Revenue for the first four months of the current financial year, namely 1 April to 31 July 2026 is £146m up 9.8% compared with £133m for the same period last year. Volumes are up 5.6% on the same period last year. As reported at the year end, we have seen price increases from some of our suppliers due to increased energy and oil prices, which were also a factor in the increased revenues in the period to 31 July 2026. These price increases have now levelled out and we are not expecting any further rises. Currently we are not having any issues with supply of product from around the world.
Margins remain consistent with the second half of the prior financial year. Overheads remain well controlled and net profit is in line with market expectations.
These good results in the first four months have been achieved despite the backdrop of a weak economy for our sector. Our customers are slightly less confident in the economy compared to this time last year, but we continue to identify areas of opportunity to grow the business.
The construction of the National Distribution Centre is progressing according to plan and in line with budget, and we still expect to complete this by the end of 2026 and to have it fully operational by the end of 2027.
The Company's interim results for the six months ending 30 September 2026 will be announced on 26 November 2026.
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