Langley Interim Trading Statement

...parent company half year results published today

Retford - 31st July, 2019

Langley Holdings plc, the diverse engineering and industrial group, has today published its Interim Trading Statement for the six months to 30 June 2019.

The group reported a profit before tax and non-recurring costs of €24.8 million on revenues of €358.1 million.

Profits before tax for the full year are forecast at €64.9 million on revenues of €905.0 million, after non-recurring costs of €4.7 million associated with the acquisition of Marelli Motori, the Italian manufacturer of electric motors and generators, in May.

Tony Langley, the group’s Chairman, said in his review of the business, that despite overall trading for the first 6 months being down compared to the same period last year, this was to be expected "after several years of successively record profits”.

He goes on to say that the second half is looking more positive, although does not expect a return to previous years’ record performances.

Langley commented that all of the group's operating divisions are performing broadly as expected, and that together with the acquisition of Marelli, the group is “effectively pressing the reset button for the next phase of its development”.

The group closed the half year with orders on hand of €297.3 million, net assets of €649.0 million and a consolidated cash balance of €228.7 million.

Download Interim Trading Statement here

About ARO:

Since 1949, ARO Welding Technologies SAS has been a leader in resistance welding technology, providing the automotive and manufacturing industries with innovative robotic, manual, and stationary welding systems. From spot and projection welding, to seam or butt welding, we provide the optimum solution. ARO is headquartered near Le Mans in France, with regional offices in Europe, the Americas and the Far East as well as independent sales and services partners. ARO is a division of the multi-disciplined UK engineering group, Langley Holdings plc.