Langley Holdings plc, the diverse engineering and industrial group, parent company to the Piller group, today published its IFRS Annual Report & Accounts for the year ended 31 December 2020.
In the year to 31 December 2020, the group recorded a profit before tax and non-recurring items of €28.5 million on revenues of €766.8 million.
Non-recurring costs of €4.5 million, associated with the closure of the group’s Marelli Motori division factory in Malaysia during the period, resulted in a profit before tax of €24.1 million.
Net assets at the year-end were just over €707.2 million and consolidated cash around €288 million. The group has nil debt.
“2020 was a year like no other” said Mr Tony Langley In his Chairman’s Review of the business and that the group had “…successfully navigated the single most challenging economic and social phenomena in living memory.“
Download: Chairman Review 2020
Download: Full IFRS Annual Report & Accounts 2020
About Langley Holdings
Langley Holdings plc (Langley) is a UK based, globally operating, multi-disciplined engineering and industrial manufacturing concern, principally providing capital equipment technologies to diverse markets around the world. Langley businesses occupy strong niche positions in their respective fields, providing advanced technologies in a solutions-based approach. The group comprises 7 divisions based principally in Germany, France and Italy and has a worldwide manufacturing and commercial footprint of several million square feet, with 17 production facilities in Germany, France, Italy, UK, the United States and Asia and more than 80 sales and service subsidiaries across Europe, the Americas, the Far East and Australasia.
The group was established in 1975 by Tony Langley, the current Chairman & CEO, and remains in family ownership.