Manroland sheetfed performing as expected

- Business ‘standing on its own feet’

 

- To remain as separate company for at least first full year of ownership

 

Langley Holdings said manroland sheetfed, the segment of the defunct manroland AG business which it acquired earlier this year, is performing to expectations and ‘standing on its own feet’.

 

Reporting the parent company’s half-year results to June 30, which saw operating profit up almost 25 percent, chairman Tony Langley said: ‘Since February we have been supporting the management to re-align the manroland business to current levels of demand and to adjust from the institutional management style of the former manroland AG.

 

‘The business is trading within expectations and has generated positive cash flow during these first five months and is standing on its own feet financially, which I expect it will continue to do so, albeit at a much reduced level to that enjoyed just a few years ago.

 

‘We have not incorporated the manroland division into the group at this stage and it will remain outside until completing its first full year of trading under our stewardship.’

 

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