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Family timber firm reports encouraging numbers
30/06/2010
The strength of the timber industry has been highlighted after a family import and distribution firm reported a rise of 37 per cent in its pre-tax profits.
James Latham, which has been under the management and direction of the Latham family since 1757, saw a £5.6 million pre-tax profit rise, on revenues of £115.4 million – up 1.3 per cent – and a dividends-per-share increase of 15 per cent to 7.5 pence.
The figures are an encouraging sign of the demand for timber for those thinking of making an investment in the commodity.
In a difficult year, the modest rise in turnover represents a good performance, particularly as it was down 5.9 per cent at the interim stage. The company also reported that the improved level of demand seen in the second half has continued into the first quarter of the new year.
The positive numbers have been generated by a number of canny decisions, with a significant reduction in sales and administrative expenses across the business. In a report on its position, a spokesperson for the company said they were focused on adding resources to areas in which there are opportunities for growth, working with suppliers to introduce new products, and using their "strong financial position to take advantage of opportunities that will occur in the current trading climate."
James Latham, which has been under the management and direction of the Latham family since 1757, saw a £5.6 million pre-tax profit rise, on revenues of £115.4 million – up 1.3 per cent – and a dividends-per-share increase of 15 per cent to 7.5 pence.
The figures are an encouraging sign of the demand for timber for those thinking of making an investment in the commodity.
In a difficult year, the modest rise in turnover represents a good performance, particularly as it was down 5.9 per cent at the interim stage. The company also reported that the improved level of demand seen in the second half has continued into the first quarter of the new year.
The positive numbers have been generated by a number of canny decisions, with a significant reduction in sales and administrative expenses across the business. In a report on its position, a spokesperson for the company said they were focused on adding resources to areas in which there are opportunities for growth, working with suppliers to introduce new products, and using their "strong financial position to take advantage of opportunities that will occur in the current trading climate."
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