Parent Company Interim Trading Statement 2021
Retford - 5th August, 2021
Langley Holdings plc, the diverse engineering and industrial group, parent company of the Marelli Motori group, today published its Interim Trading Statement for the 6 months to 30 June 2021.
The group reported a profit before tax (PBT) for the period of €12.0 million on revenues of €363.9 million, compared with €3.9 million for the same period last year on revenues of €370.4 million.
The group closed the half year with net assets of €738.9 million and a consolidated cash balance of €311.9 million with nil net debt.
Chairman & CEO, Tony Langley, said in his review that there had been a "significant uptick in order books across all divisions" in the first half and this will be reflected in a "strong second half”. The group expects to report a full year PBT of circa €43 million on revenues of just under €900 million.
Langley also reported that the group had entered into an Agreement with Rolls-Royce to acquire their Bergen Engines division and that he is looking forward to welcoming the Norwegian company’s 900+ employees to the Langley family of businesses when the deal closes on December 31st.
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Langley Holdings plc (Langley) is a privately owned UK engineering and industrial manufacturing concern, principally providing capital equipment technologies to diverse markets worldwide. Langley businesses are either outright market leaders or occupy strong niche positions in their respective fields, providing advanced technologies in a solutions-based approach. The group’s principal operations are based in Germany, Italy, France and the UK with 17 production facilities in Europe, the UK and the US and more than 80 sales and service subsidiaries worldwide, currently employing some 4,600 people.