Claudius Peters has “another disappointing year” in 2018, according to the chairman of parent company, Langley Holdings. The Buxtehude-based company did however remain profitable on revenue of €102.8 million.
“Claudius Peters came into 2018 with a healthier order book than the previous year and I was expecting a better performance,” said Anthony Langley. “However, a number of major projects were postponed principally for Russia, and an overspend on one major contract in Germany also added to the malaise.”
China was the stand-out performer over the year, the only geography to exceed expectations, although the company’s US division did also exceed its budgeted profit “due to a more favourable business mix”.
At the end of 2018, the company recorded €56.8 million of orders on hand, down from €81.8 million of orders on hand at the end of 2017. Claudius Peters manufactures materials handling equipment for the cement, steel, alumina, and gypsum industries.
Read the article online at: https://www.worldcement.com/product-news/13022019/claudius-peters-reports-another-disappointing-year/