5th Aug 2014 09:56
LONDON (Alliance News) - Latchways PLC Tuesday said trading conditions remain mixed, with upticks in performance in its UK and Latin America businesses but a weak environment for its European arm.
In an interim trading update, the worker-safety systems provider said it has seen a rise in orders from its UK Horizontal business, which it said appeared to be driven by the recovery in the UK's construction sector. It also said it was seeing strong growth in its Latin American arm.
It said its newly-formed North American arm was making progress and reported a 'robust' performance for its Wingrip product line, along with some encouraging signs from its Vertical product line.
But its European business is still facing a challenging environment, Latchways said, the subdued demand continuing to impact on several key markets.
It also said the strength of sterling against the euro and the US dollar had narrowed its margins, adding a further degree of uncertainty.
Despite the mixed picture, the group said its forecast for the full-year remains unchanged.
Latchways shares were down 2.4% to 1,000.10 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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