Langley Holdings plc, the engineering and industrial group that controls manroland Sheetfed, released its annual results for the year ended 31 December, 2015.
The group reported a pre-tax profit of €106.7 million ($167 million Canadian) on revenues of €874.5 million ($1.37 billion Canadian). Langley Holdings also reported it had zero debt and close to €330 million of cash reserves at year end.
During his Chairman’s Review, Tony Langley said 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 year in succession, since acquiring the printing press builder in early 2012.
Langley Holdings, however, pointed to Piller, which develops electrical systems for data centres, and ARO, which develops automobile welding machinery, as its principal revenue drivers of 2015, with both Piller and ARO 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, according to Langley. Druck Chemie, the chemicals producer, which completed its first full year in the group, and Bradman Lake, the packaging machinery specialist, both reported what Langley Holdings describes as satisfactory results.
Tony Langley also noted the company had opening order books totaling €300 million, stating that he expects 2016 will be a successful year and that the group will continue to search out new acquisition opportunities.
Langley Holdings plc was founded in 1975, by Tony Langley, and currently employs around 4,300 people worldwide.
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