Parent company releases half year results
Another solid performance
Retford, 31st July 2018
In the 6 months to 30th June 2018, Langley Holdings plc, the engineering and industrial group, reported a profit before tax of €43.5 million on revenues of €398.2 million.
Tony Langley, the group’s chairman, said in his half year review that the result "was in line with expectations and on the whole, very satisfactory.”
Profits before tax for the full year are forecast to be €102.2 million on revenues of €922.0 million.
Langley commented that all five of the group's operating divisions are performing broadly as expected and that from today’s perspective, the forecast is achievable.
The group closed the half year with orders on hand of €314.1 million, net assets of €678.8 million, a consolidated cash balance of €350.3 million and nil debt.
Download the 2018 Interim Trading Statement here
Piller is a world leader in
power protection technology. The company builds electrical systems for
mission-critical applications worldwide. Clients include many of the
world's central and commercial banks, stock exchanges and other
financial institutions, as well as broadcasters, airports,
telecommunications networks, government departments and co-location
Founded by the German engineer Anton Piller in
1909, more than a century on Piller is still headquartered and produces
in Osterode and nearby Bilshausen, although today the company has
subsidiaries across Europe, the Americas, Asia and Australia and today
employs approaching 1000 people worldwide. In November 2016, Piller
Power Systems Inc, the US subsidiary of Piller Group GmbH, acquired the
assets and business of Active Power Inc, the US kinetic energy storage
Piller group is a division of the UK engineering and industrial group, Langley Holdings plc.