Our parent company, Langley Holdings plc, the diverse engineering and industrial group, today published it’s Interim Trading Statement for the 6 months to 30 June 2020.
The group reported a profit before tax for the period of €3.9 million on revenues of €370.4 million, compared with €24.3 million for the same period last year.
In the year to 31 December 2019. the group posted a profit before tax of €55.8 million and is forecasting €20.03 million this year, after non-recurring costs of €3.0 million associated with the discontinuation of manufacturing activities in Malaysia.
Tony Langley, the group’s Chairman & CEO, said in his half-year review of the business that the Coronavirus pandemic was having a “significant effect” although the group’s businesses are “on the whole, managing the crisis well”, concluding that “considering the extraordinary circumstances” he is satisfied with the result to 30 June and considers the forecast for the full year prudent.
The group closed the half-year with net assets of €683.2 million and a consolidated cash balance of €267.3 million, up circa €30 million in the period.
Download: Interim Statement
About Langley
Langley Holdings plc (Langley) is a globally operating, multi-disciplined engineering and industrial manufacturing concern, principally providing capital equipment technologies to diverse markets around the world. 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 comprises 6 divisions based in the UK, Germany, France and Italy and has a worldwide manufacturing and commercial footprint of several million square feet with 17 production facilities in Germany, France, Italy, UK, the United States and Asia and more than 80 sales and service subsidiaries across Europe, the Americas, the Far East and Australasia.
The group was established in 1975 by Tony Langley, the current Chairman & CEO, and remains in family ownership.