Langley Holdings plc – Annual Report & Accounts 2009
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Retford 1 February 2010. Langley Holdings plc today releasedits IFRS Annual Report & Accounts for 2009. Reporting operating profits of €63.0 million on revenues down by almost a fifth on the previous year at €425.8 million, the group’s Chairman, Mr Tony Langley, said in his review of the business that considering the prevailing economic circumstances 2009 had been a very satisfactory year and that operating profits had held up well due to “early and decisive action” to reduce costs. He also says that cash reserves had “continued to strengthen” in 2009 and that the group is in “good shape to weather a prolonged downturn if necessary”. The group saw signs of improved trading conditions in the fourth quarter with order intake for December the strongest since July 2008.
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About
Langley Holdings plc is a diverse privately owned UK based engineering group, specializing in capital equipment technologies that are either outright leaders in their field, or niche players. Its principal operating divisions are located in the UK, Germany and France with a network of over 30 subsidiaries in 17 countries, employing over 2,300 people worldwide. Unusually for a private group, Langley is highly transparent making its annual and interim reports readily available to all its trading partners and employees, believing that those partners and employees have a right to know who is ultimately behind the companies they are engaged with. |
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