James Latham (AIM:LTHM) - delightful results from a delightful company
The leading importer and distributor of wood-based sheet materials, joinery quality softwood and hardwood and hardwood flooring, and one of AIMs blue chips (in our opinion), delivered excellent results for the year to 31 March 2015. This has been a great story over the past few years and the business looks well set for the future with a supportive market and expanding UK presence.
The Group operates from 10 sites around the UK offering a wide range of products and, despite the seemingly conservative image, have always been innovators in the market. Check out their own brand Bausen Solid Hardwood and Engineered flooring at http://www.bausen.co.uk – interesting use of umlauts for what is a UK product! Group revenue for the financial year to 31 March 2015 was up 7.2% at £174.9m with operating profit up £1.1m to £10.6m. Eps of 40.3p compares to adjusted eps of 36.9p in the prior year which excluded £1.8m of exceptional gains relating to the pension scheme. The higher…