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Date: Thursday 21 Aug 2008

LONDON (ShareCast) - Sales in the four months to July are up on a year ago at timber merchant James Latham, although margins are lower and interim figures will be down on 2007, as expected.

“This is a result of increased competition for available business and lower prices for replacement stock in some areas,” it said, adding that the current trading environment is mixed.

The firm warned in June that conditions had deteriorated and conditions in the UK were resulting in weaker prices in a number of areas.

“While there is much less business from the new build and transport sectors, customers in other areas remain busy,” Latham said today.

“The company has a strong financial base, with significant cash reserves, and is well placed to weather what may be difficult trading conditions.”

Results for the six months to the end of September will be announced on 27 November.

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