Page 1

James Latham plc ( the " Company " ) Trading Statement and Results of AGM latham THE NATURAL CHOICE The Chairman of the Company is pleased to provide the following trading update : Revenue for the first four months of the current financial year , namely 1 April to 31 July 2021 is £ 127m . This represents an increase in sales per working day of 34 % compared with the three months ended 31 March 2021. Global demand for timber remains high , which has resulted in increased prices and shortages that have not been seen in the industry before . We continue to see large increases in container rates which have caused significant increases in the costs of our imported products . Volumes per working day are up 11 % from the three months ended 31 March 2021 , demonstrating that we have been able to meet the demands of our customers . Our aim throughout this period has been to ensure that our loyal customer base is kept supplied with product , despite the supply difficulties in the market . Our ability to secure enough volume of products from our key suppliers and the unprecedented high demand has resulted in improved margins . Overheads have been well controlled , and the level of bad debts is very low . Transport continues to be difficult with a shortage of drivers available for us and our hauliers , but everyone in the business has worked hard to successfully maintain our service levels at the same high standard as our customers would expect . This revenue and margin increase together with our control of overheads has resulted in profit before tax for the first four months of this year being approximately the same as we achieved for the whole of the last financial year , namely a profit before tax of £ 18.6m . The Company's strong cash position has helped to finance increased inventory levels to meet the demand from our customers . The supply difficulties though have meant that we have needed to invest in inventories which are increasingly taking longer to arrive in the UK and be available for sale . Our customers remain busy , but there are concerns that shortages in other construction products will mean that there are likely to be delays on projects which will affect some of our customers . The Board are very mindful that the timber industry has seen market conditions that are unlikely to ever be repeated , and more normal trading conditions will return , but at this stage we are cautiously optimistic that demand will be strong for the rest of the calendar year , but that margins will come under increasing pressure . The Company's interim results for the six months ending 30 September 2021 will be announced on 25 November 2021 . Results of Annual General Meeting The Annual General Meeting ( “ AGM " ) of James Latham plc took place at 12.00pm on Wednesday 25 August 2021. A quorum was present . Due to COVID - 19 restrictions , the AGM took place behind closed doors and the resolutions were passed by proxy voting , the details of which are shown below .