Chartists may like this one - albeit I prefer facts, which is what you get every 6 months in Chairman's comments. Have held for several years, as I like to hold for the longer term small/medium businesses with tangible assets, good track record and paying dividends. Downside is lack of liquidity (family control over 50%). Steep recent rise on back of good results but could be more to come. Market cap now just under 30M, looks fair for a solid timber merchants business (been around since 1750!)which made 3M pretax in year to 3/2004 and current year has started well. Modest gearing. Yield 3%. Interesting bit is its former depot on which planning for mixed residential/commercial development recently received on Appeal after a long battle. With the company not needing the cash from the sale there could be a bumper one-off dividend. Anybody care to guess approximate value of just over 13 acres development land in Clapton?

Proptrade - for you I will get back in the pram. With 5M shares in issue, historic NAV just under 6 pershare. These are real assets you can touch, not intangibles. Add in say 10M to NAV from todays news (gross profit over 15M)and that gives you just under 8. Don't appear to have any similar jewels elsewhere in the F/Ds, but for family companies around as long as this the book value of their other land is likely to be conservative and could be more reserve hidden away elsewhere(e.g.lots of timber to value). Underlying trading looks solid and move to AIM/share split in January might enhance profile and liquidity - deferred consideration (8M+ still to come) may give opportunity for more special dividends, particularly as tax paid and pension fund topped up with downpayment received on completion. DYOR etc

Proptrade (and any other interested party)- should have reminded you in the last post to check very carefully the wording of the Press Release, in particular the words "minimum," "current" and "gross profit" (as opposed to cash sale price). The hidden reserve may be greater than we think.

Latham chairman buys 10000 at 595p and chief exec of CYD (buyer at Clapton)engineering an MBO. Co-incidence? Positively the last post on this thread - shall sit quietly and wait, collecting nice dividends along the way. Sympathy to those who gamble on the likes of PET, but I remember Poseidon!

Can't resist a final dig - hope some of you are in. Check todays results. Even after this mornings rise (remember 4 for 1 split, so now equivalent of 680p) market cap less then 35M and published net assets 42M, true probably more. Still has around 12M cash to come from deferred sale at Clapton - business does not need it, tax paid and 2m from first tranche used to bolster pension fund deficit. Leaves a lot for further special dividends and basic trading "comfortably ahead" of last year. Followers will know chairman is invariably realistic to the point of pessimism in his comments. Not the steal it was, but I ain't selling mine.

HQ on Hemel Hempstead Industrial estate, but had a "disaster recovery" plan in place which seems to have worked well. Essentially functioned from other depots at Purfleet and Thurrock.Confirms my view of good management.In the meantime, another special dividend is being paid in January (which with interim gives 8.6p per share). Means overall yield for the year will be above 10% for second year running.Interims show good growth and despite cautious outlook for rest of year and Hemel disruption they still expect to meet targets. Commend all to read Chairman's comments with interim figures - short, concise,factual, easy to understand.Looking forwards, Purfleet/Thurrock ideally placed for timber supplies to work at Thames Gateway and London Olympics. Suspended ceiling/partitioning business (currently trading strongly) not far away either in Dagenham.LTHM has been great success for long term holders, including me for last four years and is IMO expected to more than pay for its keep over the next four.As always DYOR.

This timber merchant company has a habit of coming up with nice surprises and this week announced sale of non core suspended ceiling business to Wolseley for almost 7M above book value at 10.3M. Net assets should now go above market cap again, despite arbitrary pension deficit 9M included in current balance sheet liabilities. It is a cyclical business and they look to have sold at a good time. With further monies also still to come from sale of land at Clapton,they should be swimming in cash later this year and there will hopefully be another special dividend.Risk is that they will use the cash for an untimely purchase, but they have been around 250 years and recent management track record first class.

Another nice surprise today - one of the most attractive features of statements from this company is that the Chairman never uses two sentences when one will do.

Feel very lonely on this thread, but another nice surprise in trading statement today.Been a realtively low risk multi bagger over last 5 years and still looks good value to me, but always DYOR.

I think the Directors are going to take Lathams private.

Possible - the family control over 50% and the business may well have 15/20m of cash by the year end against current market cap 36M.

well i bough a 2500 shares late on yesterday. I did a little reseach and it seems the co is very cash rich on a low pe-just what i look for. Will be interesting to see if this one breaks out as others find the value. Looks a very well run family business and it's interesting to note what one writer on the ADVFN bb has said about how much storm damage there was back in January-ie they must have been mad busy selling fence panels. Certainly another cheap one the Leach has found!!

bought another 1000.

Not a lot of news flow from LTHM, but when it comes it tends to be good. Results due next month unlikely imo to disappoint. Nice to have some company on this thread Dave - been quite lonely (but very profitable!) last few years.Still one of my largest holdings.

yes, a few buys today as i feel some have looked at how much cash these have on the books. Another little gem is CHH which broke out today, i manged to get 1500. I've been filtering a few stocks of late and i seem to be finding some nice bargains.

added some today dave, thanks for research and bringing to my attention.

'quick assets of 39 mill' against market cap of 47 mill. They have 10 mill of prop asset sale to come, not sure of their full cash position. It's a great cash generative bis though and as somebody has already mentioned they must have cleaned up supplying new fencing for jans storm damage.

yes it's broke out and they've pulled spread in, looking at the figs and size of holding by family would make sense if a MBO was on the cards.

no stopping this now, some large trades last 2 days, maybe more than a breakout this.

Have posted before that this co regularly comes up with nice surprises and another in today's trading statement.A real quality smaller business.

Yet another nice surprise this morning - with their depots in East London and Olympics construction work about to begin in earnest,still keeping mine.