Interim Trading Statement 2022
Retford - 29th July, 2022.
Langley Holdings plc, the diverse engineering and industrial group, today published its Interim Trading Statement for the 6 months to 30 June, 2022.
In his Chairman’s Review, Mr Tony Langley said that order books have “reached a new record high at the half year" and despite the challenges being faced by the group’s businesses, overall the first half of 2022 was “satisfactory”.
Reorganisation of Bergen Engines AS, the Norwegian medium-speed diesel engine builder, acquired from Rolls-Royce plc on 31st December, 2021, was “largely complete” at the half-way.
He says the measures will have a positive effect in the second half, with the full benefits coming in 2023 and beyond.
The group reported a profit before tax (PBT) of €20.5 million for the period to 30th June on revenues of €542.6 million, compared with €12.0 million for the same period last year on revenues of €363.9 million.
The group closed the half year with net assets of €844.4 million compared with €738.9 at June 2021. The consolidated cash balance was €254.8 million (June 2021: €311.9).
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About Langley Holdings
Langley Holdings plc is a privately owned UK based engineering and industrial manufacturing group, principally producing capital equipment to diverse markets worldwide.
Langley businesses are either outright market leaders, or occupy strong niche positions in their respective fields, providing advanced technologies in a solutions-based approach. The group operates in three principal areas: Power Solutions, Print Technologies and Other Industrials.
The group’s operations are based in Germany, Italy, France the UK and Norway, with 18 production facilities in Europe, the UK and the USA.
The group more has more than 90 sales and service subsidiaries worldwide and employs around 5,400 people.
The group was established in 1975 by the current Chairman & CEO, Anthony Langley and remains entirely in family ownership.