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10 Aug 2011 07:00
10 August 2011
Latchways plc
Interim Management Statement
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 April 2011 to 9 August 2011 inclusive.
Trading in the early part of the year has been robust, with product revenues ahead of the same period last year.
In our preliminary results announcement for the year ended 31 March 2011, we stated that export markets were performing well. This has continued. Product revenues have made good progress, with growth in mainland Europe and further gains for the Self Retracting Lifeline range. As expected, conditions in the UK construction market remain weak, affecting both product sales and installation margins in our UK Safety Services division. This has been more than offset by the continued growth in export markets.
Later this year will see the launch of further innovative new products to complement our existing range. We expect these to generate significant revenues in future years.
We continue to invest in our sales and operational infrastructure, to support the increasing penetration of our existing product range, the launch of new products, and our growth in export markets.
The business remains strongly cash generative, with the balance sheet strengthening further since the year end.
Enquiries:
Latchways plc | Threadneedle Communications |
David Hearson, Chief Executive Rex Orton, Financial Director Tel: 01380 732700 |
Graham Herring Tel: 020 7653 9858 |
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