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James Latham News Story

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Latham(James) PLC Statement to the 2009 AGM

Announcement: Thu 20th August, 2009 12:49pm

RNS Number : 7660X
Latham(James) PLC
20 August 2009

James Latham plc

Stock Exchange Announcement and Statement to the 2009 AGM

The Directors intend to issue the following statement to shareholders attending
today's AGM:

For the first four months of the current financial year, namely April to July
2009, revenue is almost 9% below the same period last year. This is a result of
the lower level of activity in the economy and some lower product prices,
however margins are at a similar level. This represents an improvement in
margins from the low levels seen in the second half of last year. The results
for the half-year to September are expected to be below those of last year but
above the Directors' expectations prior to the start of the year.

The trading environment remains challenging. There are signs that timber prices
have reached the bottom and are rising in some areas. Generally our customers
have reasonable order books for the next few months but it is difficult to
predict the level of activity likely during the winter months. Some sectors
remain very quiet.

The board has responded to the trading environment by concentrating resources
where it has competitive advantage and by reducing overhead costs. The number of
customer failures has remained above normal levels but below those experienced
at the end of 2008.

The company has a strong financial base, with significant cash reserves, and is
well placed to weather uncertain trading conditions.

James Latham plc's interim results to the end of September will be announced on
26 November 2009.

Peter Latham
20 August 2009


James Latham plc
Peter Latham
David Dunmow 01442 849100

Astaire Securities Plc
Andrew Raca 020 7448 4400

This information is provided by RNS
The company news service from the London Stock Exchange


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