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James Latham (LTHM) investor relations material

James Latham H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2026 earnings summary27 Nov, 2025

Executive summary

  • Revenue for the six months ended 30 September 2025 increased by 5.5% year-over-year to £196.8m, driven by higher volumes, especially in LDT timber pack sales.

  • Operating profit was £11.1m, slightly down from £11.3m in the prior year period, with profit before tax at £12.8m versus £13.6m.

  • Earnings per share (basic) were 47.9p, down from 50.5p year-over-year.

  • Interim dividend increased to 8.1p per share, payable in January 2026.

Financial highlights

  • Gross profit margin was 16.2%, marginally lower than 16.3% in the prior year, reflecting growth in lower-margin LDT business.

  • Finance income decreased to £1.9m from £2.5m, mainly due to capital investments.

  • Net assets rose to £225.2m from £213.8m year-over-year.

  • Inventory levels increased by 6.0% to £70.9m, and trade receivables rose 4.4% to £67.2m, both in line with higher trading volumes and revenues.

  • Cash and cash equivalents decreased to £59.8m from £67.5m, primarily due to £8m in capital expenditure.

Outlook and guidance

  • Second half of 2025/26 has started with similar volumes and margins as the first half; product price stability expected to continue.

  • Customers maintain reasonable order books, but economic uncertainty and sector weakness (DIY, house building, construction) persist.

  • Full-year results for the period ending 31 March 2026 are expected to be announced on 2 July 2026.

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Frequently asked questions

James Latham plc is a distributor of timber, panels, and wood-based materials in the United Kingdom. The company supplies a wide range of products, including hardwoods, softwoods, decorative veneers, melamine panels, and specialty wood products. Serving industries such as construction, furniture manufacturing, and interior design, James Latham provides materials suited for both structural and aesthetic applications. The company’s extensive product line is complemented by services that include bespoke machining and technical support, tailored to meet specific client requirements. The company is headquartered in Hemel Hempstead, United Kingdom, and its shares are listed on the London Stock Exchange.

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