11 Feb 2013 07:00
11 February 2013
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 2012 to 10 February 2013 inclusive.
The third quarter saw record order intake for Latchways, assisted by particularly strong sales for the Wingrip and Vertical product lines. We therefore expect the second half to be considerably stronger than the first.
Heading into the fourth quarter, the underlying business climate remains challenging and customers are cautious over spending plans. Despite these headwinds, the level of opportunities arising, particularly overseas, is encouraging. Assuming a reasonable conversion of these prospects, we still expect to report a successful outcome for the year.
Our strategy of growth through increased geographical representation and product innovation continues unchanged. Our enhanced sales team has introduced a number of new customers during the year and we expect these to generate further revenue growth in the future. Our balance sheet and cash flows remain strong and we are well placed to benefit as and when the economic climate improves.
Enquiries
Latchways plc | Tel: 01380 732700 |
David Hearson, Chief Executive Rex Orton, Financial Director
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Newgate Threadneedle | Tel: 020 7653 9850 |
Graham Herring Josh Royston |