10 Feb 2012 07:00
10 February 2012
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 October 2011 to 9 February 2012 inclusive.
Trading in the second half remains positive, with a good performance from our Self Retracting Lifelines. In the face of continued uncertainty in the Eurozone and UK Construction markets, our trading environment remains challenging, but we still expect to report results close to or in line with the Board's expectations.
Looking ahead, we are excited about the prospects for our newest product lines. We are seeing increased interest in the Self Retracting Lifeline worldwide, which is reflected in robust revenue growth. Our newly launched Personal Rescue Device is receiving very strong interest and we now expect this to be a significant revenue contributor in the coming year. We also have an encouraging pipeline of prospects for Wingrip, both for the new "All in One pad" and the more established line systems. We are continuing to recruit sales resource to ensure we take full benefit from these opportunities.
Cash flow remains strong, ensuring that we have the necessary resources to take advantage of opportunities to expand the business as they arise.
Enquiries: Latchways plc Tel: 01380 732700
David Hearson, Chief Executive
Rex Orton, Financial Director
Newgate Threadneedle Tel: 020 7653 9858
Graham Herring/Terry Garrett