Latham (james) Plc

0.00 (0.0%)
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 Shares Traded Last Trade
  0.00 0.0% 1,230.00 95 08:00:00
Bid Price Offer Price High Price Low Price Open Price
1,210.00 1,250.00 1,230.00 1,230.00 1,230.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Wood Products, Nec 385.37 45.64 226.40 5.42 248.07
Last Trade Time Trade Type Trade Size Trade Price Currency
08:18:25 O 95 1,210.00 GBX

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Posted at 24/4/2023 09:26 by tmfmayn
Thanks 1c3479z and glad you liked the article. Fair point on the cash; £37m versus market cap of £239m is about 15%. Not sure if all that cash is 'surplus to requirements' though. Perhaps the cash position is all part and parcel of running the business in the 'Latham way', to ensure long-term ambitions are met and reassure customers, staff, suppliers etc during difficult times. Anyway, here is the SharePad article for anyone interested:

[SharePad] Screening For My Next Long-Term Winner: JAMES LATHAM #LTHM

I selected 40-bagger James Latham because it traded on a remarkably low trailing P/E of 6:


Posted at 21/4/2023 14:45 by 1c3479z
excellent article by Maynard Paton on his website,
all metrics brilliant apart from FCF and operating margin put down to the competitive nature of their market, think though he could have discounted their balance sheet cash in assessing the overall valuation which on balance looks fair value to cheap. Buy towards £10-11 if it drops slightly.
also article in the Times pointing out the building homes for the future regulations which will bring in much greater use of timber frame especially in England by 2025. Most of the timber will be imported which is a strength of LTHM.
so ought to be good for both James's, James Jones and James Latham.

Posted at 30/3/2023 11:49 by alter ego
It was you David that brought LTHM to my attention with mention of the prospective Clapham site sale. I lived not far from their Lea River site and saw it frequently on my push bike journeys. I only know I bought in between 2010 and 2012 and my average price is £2.35 so like you, no complaints.
Posted at 30/3/2023 11:44 by davidosh
I have been a shareholder here for nearly twenty years and certainly have no complaints.

It has a stockrank of 92 and this week 20 years ago it was 81p. I do not know my average buying price but Lathams are a very well run family firm in a very steady enduring sector and pays dividends. A perfect long term buy and hold

Posted at 30/3/2023 11:12 by c3479z1
Many thanks, both,
if those figures are correct, the company appears to me rather cheaply rated given its market position, balance sheet and record though its business is cyclical, it's a distributor so will never be highly rated and the share capital is controlled by the family and connections so not much institutional interest.

Posted at 30/3/2023 10:25 by wad collector
Good question; unhelpfully they don't remind us in the statement what those expectations are. Nor do they mention them in the last Half Year results. Nor do they even have a copy of this RNS on the copy website yet.
If you go on Yahoo they list only one broker covering LTHM who come up with the figure for 23 of 146.76p EPS. That is all I can see in a quick trawl.

Posted at 07/10/2022 12:39 by tim1478
Encouraging share price is rising when market is so dull -- Any reason why?
Posted at 06/10/2022 16:11 by cwa1
Posted at 28/7/2022 09:45 by investopia
Golden cross with the 50-day moving average rising over the 200-day, yes. However, the share price is below the 20-day moving average and below the 50-day moving average.

And it looks like the stock has just suffered a pivot failure.

My guess is the price could move down nearer to 1200 to touch the bottom of that one-year-long base formation. Then up. But how long before it breaks out of the base? My guess is Latham will be a slow-burn at best. But, of course, I could be wrong and it may shoot up to new highs tomorrow!

Posted at 29/6/2022 07:30 by cwa1
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).

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