Impressive interim results for Langley Holdings plc

Langley Holdings plc, has released its Interim Trading Statement for the six months to 30 June 2013. The group posted a profit before tax of 40.4 million on revenues of 386 million, compared with 39.3 million for the same period last year.

The group’s net assets at June 2013 were up by 158 million on the same point last year at 488 million, around 100 million coming from the balance sheet of Manroland Sheetfed, which came into the group from January.

The German printing press builder has been under common ownership since February 2012. The business was restructured last year and is reported to be breaking even. Other divisions are reported to be trading at or close to plan with automotive specialist ARO well ahead. Net cash at 30 June was 274 million and the group has no debt.

The results for the six months are the best recorded by the group for a first half to date.