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1st February 2010. Langley Holdings plc today released its IFRS Annual Report & Accounts for 2009. Reporting operating profits of €63.0 million on revenues down by almost a fifth on the previous year at €425.8 million, the group’s Chairman, Mr Tony Langley, said in his review of the business that considering the prevailing economic circumstances 2009 had been a very satisfactory year and that operating profits had held up well due to “early and decisive action” to reduce costs. He also says that cash reserves had “continued to strengthen” in 2009 and that the group is in “good shape to weather a prolonged downturn if necessary”. The group saw signs of improved trading conditions in the fourth quarter with order intake for December the strongest since July 2008.
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