Despite difficult trading conditions, timber importer and distributor James Latham plc has reported a 4.3 percent increase in revenue for the half year to September 2008.

Operating costs rose significantly during the period, partly due the opening of the new Scotland branch and moves to larger premises for Dudley and Fareham, however revenue held up at £61,883,000 compared with £59,326,000 to the same period last year.

Chairman, Peter Latham noted that this period’s results are being compared with an exceptional equivalent period last year when margins were particularly strong. He also added that the company had seen decreases in some market sectors, notably transport and national merchants but that revenue had increased for the company’s solid timber products.

Speaking about current and future trading Peter Latham commented, "In the past two months we have seen reduced levels of activity in many sectors and the climate of general uncertainty that pervades the UK economy is resulting in less business. Some sectors remain busy but customers are unwilling to commit forward and are placing smaller orders. Based on current trading we would expect to meet market expectations for the year but with the rapidly changing state of the UK economy it is difficult to predict far ahead".

Operating profits are down from £4,209,000 to £3,167,000 resulting in a dividend payment of 2p compared with 2.5p in 2007. For more information about James Latham, visit the company website at www.lathamtimber.co.uk.

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For further press information contact: Tim Roberts or Rebecca Jones at Connectpoint PR on 0161 817 4200 or 07831151007 Email: tim.roberts@connectpoint.co.uk