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LTHM Latham (james) Plc

-5.00 (-0.41%)
14 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Latham (james) Plc LSE:LTHM London Ordinary Share GB00B04NP100 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -5.00 -0.41% 1,215.00 1,190.00 1,240.00 1,220.00 1,215.00 1,220.00 4,752 10:37:18
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Wood Products, Nec 408.37M 35.92M 1.7849 6.81 244.49M
Latham (james) Plc is listed in the Wood Products sector of the London Stock Exchange with ticker LTHM. The last closing price for Latham (james) was 1,220p. Over the last year, Latham (james) shares have traded in a share price range of 940.00p to 1,305.00p.

Latham (james) currently has 20,123,000 shares in issue. The market capitalisation of Latham (james) is £244.49 million. Latham (james) has a price to earnings ratio (PE ratio) of 6.81.

Latham (james) Share Discussion Threads

Showing 1076 to 1099 of 1150 messages
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IC running an article today that looks at the loss of supply from Russia and Ukraine but ability to pass on the costs and conclude HOLD again.
wad collector
Just think, had they not done that they would now be £56 per share.
Latham did in fact split their shares from memory 4 for 1 about 15 years ago...I think they had then reached the "heady" price of around £3.50 before the split!I have held them around 20 years.
If people can't afford £14 then they shouldn't be investing in individual shares.

Latham should keep doing what they're doing. It's odd that they're expected to change their ways and follow the less successful rather than the less successful change their ways to follow Latham.

A share split here would make this a more attractive / affordable investment. Say 10 for 1.
Divi covered 6.8*. A little stingy perhaps with superb results like that?
Results out:-

...well worth a look...

Chairman's statement

The financial year to 31 March 2022 was a year in which there were considerable challenges to the business. The economy bounced back from the effects of the COVID19 pandemic which put pressure on global supply chains and led to difficulties in obtaining regular supplies of inventory. In addition there were significant increases in the market prices for our products, mainly in the first half of the year. I am therefore very pleased to report unprecedented trading results for the financial year to 31 March 2022.

Revenue for the financial year to 31 March 2022 was £385.4m, up 54.0% on last year's £250.2m. Like for like volumes taking into account working days and acquisitions, increased by 11.9%, with the growth equally on delivered business from our own warehouses and direct volumes shipped from the ports or from the manufacturers. The cost price of our products is on average 36.2% higher (2021: 7.6% higher) than at the start of the financial year.

Gross profit percentage for the financial year to 31 March 2022 was 23.8% compared with 18.0% in the previous financial year, and 26.4% reported in the half year accounts. This figure includes warehouse costs and we are continuing to extend the shift systems to improve our service levels with six of our depots now working 24 hours a day.

Profit before tax is £58.0m, up £39.4m on last year's £18.6m. Profit after tax for the year is £45.6m, up from last year's £15.0m. Earnings per ordinary share is 229.3p (2021: 75.4p) an increase of 204.1%.

As at 31 March 2022 net assets have increased to £164.0m (2021: £118.0m). Inventory levels have increased to £74.2m from £48.2m last year. This is partly to do with increased inventory in our new business, IJK Timber, based in Northern Ireland, but mainly due to increases in prices for our products and extended lead times for our imported products. Trade and other receivables at the year end were £20.3m higher than the previous year due to the increase in revenues but are still showing an improvement on last year's debtor days. Despite the challenges of the economic environment, bad debts have remained small at 0.1% of revenues. Cash and cash equivalents of £37.0m (2021: £28.6m) remain strong with good cash flows from operating activities.

Final dividend

The Board has declared a final dividend of 27.0p per Ordinary Share (2021: 15.5p). This final dividend includes a payment of 8.0p per Ordinary Share to reflect the exceptional results for the year. The dividend is payable on 2 September 2022 to ordinary shareholders on the Company's register at close of business on 5 August 2022. The ex-dividend date will be 4 August 2022. The total dividend per ordinary share of 33.5p for the year (2021: 21.2p) is covered 6.8 times by earnings (2021: 3.6 times).

Get lost bradfreddieBrad
big swings in the timber price in America, relinquished their post pandemic boom, some sawmillers having to work short-time has that been recapitulated here, I wonder? and must make for problems managing orders for the likes of Lthm,
results in the next 3 or 4 weeks.

rather opaque statement, didn't indicate the likely profit, perhaps it's too embarrassingly high and they want to avoid saying profits for the year just started will be a lot lower in view of the evident cost pressures and possibility of recession later this year.
The turnover figure is eye catching and the cost pressures predictable. An OK statement imo.
29 March 2022

James Latham PLC

("James Latham" or the "Company")

Trading Statement

The Board of James Latham provides the following trading statement ahead of the Company's results for the year ended 31 March 2022.

Revenue for the year to 31 March 2022 remains strong and is anticipated to exceed GBP370m compared with GBP250m for last year. Cost prices have continued to rise throughout the year which is a major driver of the increase in revenues, and there are no signs currently of price weaknesses. Volume growth has slowed and gross margins percentages are now returning to more normal levels, as expected. Supply chain issues have continued, with shipment delays and congestion at the ports, and this has been exacerbated by the events in Ukraine and its effect on Russian ships and ports. We are still maintaining higher than normal inventory levels and using our extensive network of suppliers to ensure that we continue to provide a high level of service and product availability for our customers.

Overheads are facing inflationary pressures especially with increases in fuel costs causing an increase in vehicle costs per tonne delivered. We continue to monitor and control our overheads closely. The Company's balance sheet and cash balances remain strong.

The Board plans to report the Company's preliminary results for the year ended 31 March 2022 on 29 June 2022.

IC article last week notes the last 6 month figures are unlikely to be repeated and the transport costs are up and the cash flow down. It says hold.

Certainly been an extraordinary time in the timber trade. We put a standing timber contract out for tender last year and saw the highest prices and unprecedented competition . We would have done even better if we had held on a year, but who can see the future? The extraction continued through the wettest conditions in memory , and then into the lockdown. Should be drying nicely now!

wad collector
James Latham is one of the UK’s largest independent trade distributors of timber panels, decorative surfaces, wood, plastics and flooring products. Subsequently, the firm is highly innovative and is acknowledged for supplying cutting-edge materials technologies including thermoplastics and acrylics to designers and architects, enabling the most demanding designs and constructions projects to become reality. As a result, the firm’s profitability soared to £26,568m from £5,098m in 2020. Despite the robust financial performance, James Latham is trading at a P/E ratio of 6.8, lower than the industry’s P/E ratio of 22, hence it is undervalued and has the potential to further surge in value. This evidence is supported by the firm’s EPS Growth metric of 224%.

Keep up to date with WealthOracle AM

Just to let shareholders and prospective investors know that James Latham will be featured on the Mello Monday webinar event tonight at 5.30pm to 9:30pm. There will be over 400 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.
Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

Monday 29th November 2021, 5.30pm – 9.30pm

5.30 pm Mello welcome
5.35 pm David Stredder interviews Rosemary Banyard, Fund Manager to VT Downing Unique Opportunities Fund
6.10 pm Company presentation by Headlam
6.50 pm Alan Charlton presents educational insights
7.05 pm Company presentation by K3 Capital
7.45 pm Steve Clapham is Behind the Balance Sheet and looking at The Hut Group
8.00 pm Company presentation by Kanabo
8.30 pm Mello BASH with Kevin Taylor, Damian Cannon and Chris Boxall

Surely the market should recognise that the acquisition made during the period will enhance future earnings. Smart move by Lathams. This share is great value for money, which has yet to be realised.
guess market participants think the figures will be impossible to replicate next year,
so this marks the most profitable 6 months, also wary of cyclicality of timber and the supply chain difficulties though, if anyone can negotiate these, then Latham with its 260year history, connections and strong balance sheet which allows it to hold plenty of stock ought to be able to. Despite all this, the shares appear pretty good value to me, others views sought, main drawback is possibility of writedowns on stock held when normal market conditions resume.
welcome news on the pension deficit that's been a bugbear for many years.

Just imagine if they'd brought out poor results...
Bit of a damp response to these spectacular results.
figures on Thursday ought to be excellent
will be interesting to hear how they're coping with the supply chain problems at ports and with drivers.

Good idea. They did a 4 for 1 scrip issue in Jan 2005 so it's been a while. Didn't realise I had held them since 2004 until I checked. How time flies.
alter ego
Perhaps the directors should be asked to consider a share split to make the share more marketable to joe public. Say 10 for 1 would do the trick.
Noticed that three large share sales (totalling over £2m) went through just before market close yesterday, priced at around 1100 when the mid price was nearer to 1250.
Agree, it is undervalued.In their first 4 months their pre-tax was £18.6m, the same as what they made for their last FY.I'm hoping their latest acquisition was to maximise further their already increased margins and possibly relieve any Irish bottlenecks they may have been experiencing, rather than they have been struggling to meet demand due to supply issues.
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