James Latham drops on warning that timber recovery is still delayed

Shares in James Latham fell 16% after the timber specialist reported a fall in first-half profits and warned of "slightly lower" full-year results as an expected improvement in the market in the second half has not yet materialised. Revenue for the six months to September 30 of £186.6 million was 2.3% lower than a year earlier, with sales volumes up 4.1% as cost prices of timber and panels remained stable but there were "signs of price weakness" in some commodity products. "We are still seeing a move in the product mix of our ...