James Latham has reported a 69% increase in annual operating profits to £6.4m (2009: £3.8m).
The company also said pre-tax profits have risen to £5.6m (2009: £4.2m), while group sales were £115.4m (2009: £113.9m).
“The improved level of demand seen in the second half of last year has continued into the first quarter of this and we are seeing customers restocking in anticipation of rising prices,” said chairman Peter Latham.
“Customers also appear to be busier than last year, with volumes generally higher and prices firmer.”
But despite the results, he said future levels of demand continued to be uncertain.
“Cuts in government spending will affect some areas of activity and with demand still fragile, it is unclear how quickly higher prices will be established.
“It is a difficult climate in which to forecast far ahead; however, the company is in a strong financial position to take advantage of opportunities that will occur.”
