A solid set results from Latham to back up a good 1H16 performance and as per the March trading update alluded to, revenue was in line with expectations, however profits have outperformed on the back of a higher gross margin, particularly in the 2H16 (19.5%). Revenue grew across both the Panel and Timber divisions and was +6.3% YoY to £186m. The business produced gross margin of 18.6% in FY16A and the benefits of operational gearing had a positive impact on profits where PBT was +26% Yo
23 Jun 2016
Solid FY16 Performance, FY17 dividend upgrade
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Solid FY16 Performance, FY17 dividend upgrade
James Latham Plc (LTHM:LON) | 1,120 -56 (-0.4%) | Mkt Cap: 225.8m
- Published:
23 Jun 2016 -
Author:
Michael Campbell -
Pages:
8
A solid set results from Latham to back up a good 1H16 performance and as per the March trading update alluded to, revenue was in line with expectations, however profits have outperformed on the back of a higher gross margin, particularly in the 2H16 (19.5%). Revenue grew across both the Panel and Timber divisions and was +6.3% YoY to £186m. The business produced gross margin of 18.6% in FY16A and the benefits of operational gearing had a positive impact on profits where PBT was +26% Yo