Parent company publishes 2018 Annual Report & Accounts today
Retford, 8th February 2019
ARO Welding Technologies parent company, Langley Holdings plc, the diverse engineering and industrial group, today published its IFRS Annual Report & Accounts for the year ended 31 December 2018 .The group’s chairman, Tony Langley, said in his review of the business that despite a slowdown, following successive record profit years, 2018 had been “...another very successful year”.
In the year to 31 December 2018, the group recorded a profit before tax of €103.5m versus €111.8m in 2017. Net assets at the year end were €722.6m and cash €379.5m - both record highs. In his concluding remarks, Langley says that the group is continuing to seek out further acquisition opportunities “with a solid war chest” available for suitable targets.
About Langley Holdings
Langley Holdings plc is a diverse, privately owned engineering and industrial group based in the UK. The group comprises 5 operating divisions, based principally in Germany, France and the United Kingdom, with a substantial presence in the United States and more than 80 subsidiaries worldwide. The operating divisions produce equipment ranging from electrical systems for data centres and machinery for cement and steel plants, to food packaging lines, automotive welding equipment and printing presses. The group, which was founded in 1975 by the current Chairman and sole shareholder, Tony Langley employs around 4,300 people worldwide.