Manroland Sheetfed parent company Langley Holdings has said group performance was, on the whole, satisfactory although its press manufacturing operation was slightly behind target at the half year.
In the six months to 30 June 2017 the group’s five divisions posted combined revenues of €422.6m (H1 2016: €417.1m) with pre-tax profit down on the same period last year at €45.7m. Operating profit was €3m less than at the same point last year at €45m.
Forecasts for the full year indicate revenues marginally up on last year at €967.5m (2016: €900.9m) while pre-tax profit is expected to reach €115.7m (2016: €122.7m). In his review, chairman Tony Langley attributed the variance in figures largely to currency fluctuations.
In the divisions, performance from press manufacturer Manroland was reported to be “a little behind plan” in the first half of the year with order intake down although an improvement is anticipated in Q3 and full-year profits are expected to top last year’s.
German power protection subsidiary Piller performed strongly for the group, with US-based kinetic energy storage device manufacturer Active Power, acquired and merged into the division in November 2016, providing a positive contribution.