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Latham gains sale windfall

Timber firm James Latham has gained a £17.8 million windfall from the sale of its site in Clapton, east London.
The proceeds pushed Latham's pre-tax profits for the year to March up to £21.8 million.

Latham plans to use the money from the sale to help tackle the deficit in its pension scheme.

Chairman Roger Latham said: 'It comes at an opportune time.'

Underlying profits were £4 million - up 33 per cent from last year's £3 million.

Turnover was £108.2 million, an increase of 11 per cent on last year's £97.5 million.

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