Langley Holdings Releases Annual Report; manroland sheetfed to Become Division
OFFENBACH, GERMANY—February 4, 2013—Langley Holdings PLC, the engineering group behind press builder manroland sheetfed, announced it's 2012 results today.
Langley Holdings PLC, which is controlled by British industrialist Tony Langley, who is also chairman of manroland sheetfed, recorded a profit before tax of €121.3 million (2011: €76.3m), including a non-recurring gain of €25.2m (2011: nil). Langley said in his Chairman’s Review that 2012 had been a remarkably successful year and that the outlook for 2013 was looking positive, although unlikely to surpass 2012, which has set a new record for both operating and pre-tax profits.
Langley (58) also reports that the press builder was re-structured in 2012 to reach an operating break-even on €350 million of revenues, the level achieved in 2012, and that he is expecting to see "something of an improvement" on this in 2013.
manroland sheetfed is not as yet incorporated within the Langley Holdings PLC group and will report its results in March. However, unaudited headline figures are included in the Chairman’s Review and the company says that it intends to formally bring the press builder into the group as a division later this year.