Latchways Plc Shifts Abroad Gaining International Market Strength According to BAC Report05 Sep 2011 • by Natalie Aster
LONDON – Latchways long-term strategy reflects company’s efforts in gaining international market strength. The company recognizes the need to reduce its dependence on UK construction industry, which generated around 50% of all Latchways revenues a few years ago. The company conducted a number of strategic acquisitions and product improvements, focusing on overseas industrial and military markets. Thus the strategy improved company’s performance and made it less dependent on UK construction condition. Now outside sales amount 69% of Latchways total sales.
As for the future outlook, UK construction industry is forecasted to remain steady. On the contrary, European economy has regained its growth tempo. Latchways raised European sales to the point of 26% annually, and there are lots of opportunities for further growth. A strong performance of North American region reflects raising incomes from western continent. Latchways has committed significant steps forward in all its international markets. It has gained new consumers for its electricity transmission tower fall protection systems, and also stepped in new geographies, namely Middle East and South America. These will require several years to prospect and develop, but the benefits can be already witnessed.
Latchways financial performance is improving. Period after period the enterprise manages to increase its financial indices. In March 31 2011 revenues and net incomes reached GBP 20.5 M and GBP 3.6 M respectively. Annual financial results are also strong. Group revenue for the year ended 31 March 2011 was GBP 39.6 M (2010: GBP 33.9 M), a 17% increase on last year. Net income rose by 23.5%, equaling GBP 6.8 M.
Founded in 1974 and headquartered in Wiltshire (UK), Latchways engages in manufacture and distribution of safety equipment solutions for power transmission, aerospace, telecommunications and utilities sectors. Latchways ManSafe system is found on new buildings and structures, on roofs, offices, plants, offshore platforms, and entertainment arenas. It can be specified for horizontal, vertical, overhead works and along inclines.
More information on the company’s history, business description, risk factors, business opportunities and experts’ forecasts can be found in the report “Latchways plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis” recently published by Market Publishers Ltd.
Title: Latchways plc Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jul, 2011
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