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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.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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