Latchways posts record orders in third quarter

Latchways received record orders during the third quarter, boosted by strong sales of its Wingrip and Vertical products, the fall protection company announced Monday.

Latchways received record orders during the third quarter, boosted by strong sales of its Wingrip and Vertical products, the fall protection company announced Monday.

The group, which develops safety products for people working at heights in aerospace, power transmission, utilities and telecommunications, reported strong performance in the three months to February 10th.

Business was buttressed by sales of Wingrip, a vacuum anchor fall protection system for use in aviation maintenance and manufacturing of aircraft, and of Vertical safety systems for use on towers, masts, monopoles and steel lattice structures.

"We therefore expect the second half to be considerably stronger than the first," Latchways said in a statement.

The company said while the underlying business climate remained challenging and customers were cautious over spending plans, the opportunities arising overseas were encouraging.

A strategy of growth through increased geographical representation and product innovation will continue as the group moves into the fourth quarter.

"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," Latchways added.

"Our balance sheet and cash flows remain strong and we are well placed to benefit as and when the economic climate improves."

Shares rose 1.74% to 1,025.00p at 9:39 on Monday.

RD

Recommended

Imperial Brands has an 8.3% yield – but what’s the catch?
Share tips

Imperial Brands has an 8.3% yield – but what’s the catch?

Tobacco company Imperial Brands boasts an impressive dividend yield, and the shares look cheap. But investors should beware, says Rupert Hargreaves. H…
20 May 2022
Investing in drugmakers: uncommon profits from curing rare diseases
Share tips

Investing in drugmakers: uncommon profits from curing rare diseases

Treatments for medical conditions with only a small number of sufferers can still be very attractive for pharmaceutical companies and investors becaus…
20 May 2022
Share tips of the week – 20 May
Share tips

Share tips of the week – 20 May

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
20 May 2022
Delivering profits: should you buy Royal Mail shares?
Share tips

Delivering profits: should you buy Royal Mail shares?

The volume of parcels delivered by Royal Mail soared during the pandemic, and so did its profits. But it has been coming under pressure lately. So, as…
19 May 2022

Most Popular

Barry Norris: we’re already in the 1970s. Here’s how to invest
Investment strategy

Barry Norris: we’re already in the 1970s. Here’s how to invest

Merryn talks to Barry Norris of Argonaut capital about the parallels between now and the 1970s; the transition to “green” energy; and the one sector w…
19 May 2022
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves looks at the FTSE 100’s top yielding stocks for income investors to consider.
18 May 2022
Share tips of the week – 20 May
Share tips

Share tips of the week – 20 May

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
20 May 2022