Latchways profits drop, dividend maintained

Safety systems manufacturer Latchways posted a 28% drop in full-year profits, the company revealed on Monday. The company's chair Paul Hearson said it has been a disappointing two years, and the weakness of the Euro is a real concern.Profits before tax fell from £6.8m last year to £4.9m, while basic earnings per share fell to 37.87p, from 50.68p in 2014.Latchways maintained a final dividend at 27.5p per share.Hearson said Latchways has made a significant investment into sales infrastructure to restore growth, but it was too early to judge its success."Vertical revenues are expected to be bolstered by a recently signed supply agreement with our largest utility customer, whilst wind energy activity levels are high," Hearson said in a statement.Latchway shares were valued at 824p on Monday, having fallen 3.34%.