Langley Holdings, the engineering and industrial group behind Manroland Sheetfed, has published its IFRS Annual Report & Accounts for the year ended December 31, 2015. The group reported a pre-tax profit of €106.7 million on revenues of €874.5 million. The group had zero debt and almost €330 million of cash reserves at the year’s end. Tony Langley said in his Chairman’s Review that 2015 had been a “significant milestone” for a number of reasons. Manroland Sheetfed was in positive territory for the fourth year in a row since acquiring the printing press manufacturer in early 2012. But it was Piller, the electrical systems for data centres producer, and ARO, the automobile welding machinery market leader, that were the principal drivers of the 2015 result, both posting near-record profits.
In his concluding remarks, Langley acknowledged the contribution made by the group’s nearly 4,300 employees, commenting that the outstanding performance is “no accident.” With 2016 opening orders currently totaling €300 million, he expects that this year will be another successful year and said that the group will continue to search out new acquisition opportunities.
