LTC.L Regulatory News (LTC)

23 Jul 2007 07:00

Latchways PLC23 July 2007 Latchways plc Interim Management Statement In accordance with the UK Listing Authority's new Disclosure and Transparencyrules, Latchways plc announces its first interim management statement in respectof the period 1 April to 20 July 2007 inclusive. Update on Trading In our preliminary results announcement dated 11 June 2007, we stated that thenew year had started well, with a healthy order book. This remains the case,with strong product sales. European markets continue to lead the way, as traditionally smaller markets makefurther progress based on increasing enforcement of legislation. In recent months, the UK wind power generation industry has turned to Latchwaysto provide protection for workers climbing wind turbines, with a number of windfarms introducing the Mansafe system. As the importance of alternative energycontinues to grow, we expect to win further business both in the UK andoverseas. The Wingrip vacuum-based fall protection system continues to win business aroundthe world. We have recently taken initial orders from Boeing for their newgeneration of commercial airliners. The group's service-based divisions have had a slow start to the year, partlydue to poor weather affecting projects and also due to contractual delays in theSpecialist Fixings division. We expect these delays to end during the summer andthis should result in a strong second half for this division. The board remains confident of full year group performance in line with marketexpectations. Acquisition On 29 June 2007 we announced the acquisition of Height Solutions Limited, aleading UK provider of walkway products for rooftop applications, financed fromcash reserves. This was in accordance with our stated strategy of organic growthcomplemented with relevant niche acquisitions. The walkway product iscomplementary to our existing range and will be offered alongside it. We willcontinue to seek other such opportunities to enhance our product range. Enquiries: Latchways plc Threadneedle CommunicationsDavid Hearson, Chief Executive Graham HerringRex Orton, Financial Director Tel: 020 7936 9605Tel: 01380 732700 This information is provided by RNS The company news service from the London Stock Exchange