A Record Year for Langley Holdings

Langley Holdings, the engineering and industrial group, today published its IFRS Annual Report & Accounts for the year ended Dec. 31, 2016. Chairman Tony Langley said in his Chairman’s Review of the business that profits before tax were up by 15% on the previous year, making 2016 a record year for the group.
 
The group reported a pre-tax profit of €122.7 million on revenue of €900.9 million. Langley said that Manroland Sheetfed, acquired five years ago this month, had now returned the group’s initial investment in full.
 
The German printing press builder is the group’s largest division in revenue and employee terms and has approximately 40 subsidiaries around the world. Under Langley’s ownership the company has installed around 500 Roland printing presses, maintained several thousands more and applied for 169 patents. In 2014 they launched the Roland 700 Evolution, said to be the world’s most technologically advanced printing press.
 
Piller, the German producer of power security systems, was the largest contributor to the group’s result. IT hosting and Cloud data centers were Piller’s main driver in 2016, although healthcare, aircraft ground power and naval military systems also featured.
 
In November the group acquired the business and assets of Texas-based Active Power, a producer of kinetic energy storage devices, and merged the business into its Piller division. ARO, Langley’s French producer of welding technology for the automotive sector, also had another successful year on the back of a still buoyant sector.
 
Other Businesses Division (OBD) which comprises of: DruckChemie, the German print chemicals producer; Bradman Lake, the UK/US food packaging specialist and (all based in the UK); Clarke Chapman, a specialist crane builder; Reader Cement Products, a blender and packer of cement products; Oakdale Homes, a regional house builder and JND Technologies. The OBD performed satisfactorily overall and in line with expectations.