Steady progress continues.Builders still seem to be be selling new builds, the main market I assume,possibly helped by Government incentives even if the resale market in some areas is apparently weaker.
People continue to renovate.Price increases due to falling pound may affect product margins as people only have finite amounts of income,hopefully new depots & Lathams buying power should give us an edge over competitors.
AGM and news on recent trading is fixed for next week. Last update was quite positive but have heard nothing from the company since the referendum. Interested to see that for the first time ever the AGM is to be held in London rather than at HQ at Hemel Hempstead. Perhaps that indicates that there is now a stronger City following?
Took a nasty dive a few weeks ago but has recovered a fair bit of lost ground and has also gone XD. Annual report comments that currency is hedged and there is not a lot of concern about the falling £.
If the statement is reassuring and we can see some earnings progression this year then I can see the shares moving back to the old highs; balance sheet is rock solid with plenty of net cash and pension issues have largely been eliminated.
One of the gems of the AIM market given the inheritance tax break and now big enough at well over £100m to feature on the radar of high net worth individuals considering estate planning.
Yes I quite agree lew, another set of solid figures. I like companies with strong track records and significant family ownership as they oftern have conservative strategies. Osborne's financial measures to boost housebuilding, announced yesterday, can only help the company. I have topped up today.
Very good numbers from Latham this morning. Should make up to 55p in earnings for this year which has only a few months to run. Factoring in another 12-15% rise in earnings for next year, which is unambitious, and applying a sector rating implies a price well north of £8.
Good to see some decent buying against a difficult market background this week. LTHM is now capitalised at £100m+ but is still chronically under-researched. Still, that provides the opportunity; a possible 50p of earnings for the year given the better trading mentioned last week and a very favourable outcome on the pension deficit still leave the stock IMHO cheap at x11 earnings. The peer group trades on noticeably higher multiples so a move up beyond £6 in an admittedly thin market would be no surprise.
I think we are just about the only shareholders on iii!I was suprised & pleased to see the reduction in pension liabilities which has been a long running saga, millions seem to have been poured into it including a substantial part of the sale of the London property 10 years or so ago.
Still I wish all my shares had performed as well over the years as Latham so should stop whinging.Excellent results.
Splendid results from Latham this morning; net cash up to £12m, a substantial result on curbing the pension deficit and current trading marching ahead. Could expect to see 50p+ of earnings this year, so even on an unambitious rating of x12, cheap to the market and similar businesses, can envisage £6+. Notoriously hard to deal in, but well worth it!
"Timber and panel product importer and distributor James Latham is a stable, profitable company at a reasonable price.In the full-year to March 2014, the company reported revenue 14% higher and an improvement in profit of 26%. Strong demand has ..."
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