Latchways reveals record earnings
Safety systems specialist Latchways unveiled record full year revenue and pre-tax profit after growth in all regions except North America.
Safety systems specialist Latchways unveiled record full year revenue and pre-tax profit after growth in all regions except North America.
The maker of devices to stop roofers and window cleaners falling said revenues rose 5% to a record £41.4m for the year ended 31 March 2012. Pre-tax profit also rose to a record £9.9m during the year compared to £9.3m the year before.
Analysts had predicted revenue of £42.9m and pre-tax profit of around £10.20m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Commenting on trading, chairman Paul Hearson said: "Following the very strong growth achieved in 2010/11, the past year has been a period of solid progress for Latchways, despite the increasingly difficult global economic environment. We have achieved good growth across the majority of geographies and product lines, with the exception of North America."
"Given the current level of economic uncertainty, it is not surprising that the new year has started slowly. Despite this, with the level of prospects and opportunities at an all time high, and the resources now in place to service these, we are confident of achieving a strong performance for the year as a whole," he added.
The board is recommending a 10% increase in the final dividend to 22.73p, lower than market expectations of a 32.60p dividend.
CJ
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran