Langley Report Shows manroland sheetfed in Positive Territory for Fourth Straight Year
VAUGHAN, Ontario—February 5, 2016—Langley Holdings plc, the diverse engineering and industrial group, behind manroland Sheetfed, has published its IFRS Annual Report and Accounts for the year ended December 31, 2015.
The group reported a pre-tax profit of €106.7 million on revenues of €874.5 million. The group had nil debt and almost €330 million of cash reserves at the year end. Tony Langley said in his Chairman's Review that 2015 had been a "significant milestone" for a number of reasons.
manroland sheetfed, the largest of the group's five divisions in revenue and employee terms, was in positive territory for the fourth straight year, since acquiring the printing press builder in early 2012. But it was Piller, the electrical systems for data centers producer and ARO, the automobile welding machinery market leader, that were the principal drivers of the 2015 result, both posting near record profits.
Claudius Peters, the group's plant machinery builder, was in line with modest expectations due to widely sluggish cement and steel markets. Druck Chemie, the chemicals producer, which completed its first full year in the group, and Bradman Lake, the packaging machinery specialist, both reported 'satisfactory' results, as did the Other Businesses division as a whole.
In his concluding chairman's remarks, Langley acknowledged the contribution made by the group's near 4,300 employees, commenting that the outstanding performance is 'no accident.' With opening order books totaling €300 million, he expects 2016 will be another successful year and said that the group will continue to search out new acquisition opportunities.
About Langley Holdings plc
Langley Holdings plc is a diverse, privately owned engineering and industrial group based in the U.K. with principal operating divisions located in Germany and France and more than 80 subsidiaries worldwide. The group's companies produce equipment ranging from printing presses, electrical systems for data centers, machinery for cement and steel plants to food packaging lines, automotive and welding equipment. The group was founded in 1975 by the current chairman, Tony Langley, and currently employs around 4,300 people worldwide.
Source: Langley Holdings.