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8 Feb 2010 07:00
Interim Management Statement
For release 8th February 2010
In accordance with the UK Listing Authority's Disclosure and Transparency rules, Latchways plc presents its interim management statement in respect of the period 1 October 2009 to 5 February 2010 inclusive.
The board remains confident of achieving current market forecasts for the year.
Business levels have stabilised over recent months. Although we do not expect construction related markets to improve much in the short term, other areas of the Latchways business continue to perform well. Retrofit markets remain particularly robust in mainland Europe, while our vertical systems are attracting increasing interest in power generation and transmission markets. We have recently won new business with customers in the wind turbine market, as well as electricity transmission customers worldwide. Prospects remain strong in these markets.
Revenues from the Self Retracting Lifeline range continue to grow as the product gains global acceptance. The recently-launched sealed variant, designed for offshore applications, is making good progress with a number of significant prospects under discussion.
Cash generation remains strong and consequently our balance sheet has strengthened further during the period.
Enquiries: Latchways plc Tel: 01380 732700
David Hearson, Chief Executive
Rex Orton, Financial Director
Threadneedle Communications Tel: 020 7653 9858
Graham Herring/Josh Royston
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