In its interim results for the six months to 30 June, the press manufacturer’s owner Langley Holdings posted a sales increase of 20% to €417.4m (£295m). Pre-tax profits grew by 23% to €37.9m.

Chairman Tony Langley said the results for the diverse manufacturing group were in line with expectations. “All of the group’s divisions continue to report satisfactory trading results and I am optimistic that the forecast for the full year will be achieved,” he said.

Manroland Sheetfed’s Offenbach had been subject to short-time working earlier this year, because of a drop-off in orders from China.

In his review, Langley said that all of the firm’s operations were structured to be profitable on “historically low revenues”. “Consequently… I do not foresee any significant realignment costs being incurred should a volume reduction of up to 20% in any division occur,” he stated.

This is also the first set of Langley Holdings results to include DruckChemie, the German printing consumables business acquired at the end of last year. Langley said it was trading in line with expectations.

Group operating profits were €37.1m (2014: €29.7m). Langley, who is the sole shareholder, was paid a divided of €30m.

The group’s sales forecast for the full year is €946m, and he said the business was “steadily moving toward the €1bn revenue mark” and toward a €100m pre-tax profit.

It employs 4,300 people across its five divisions and 80 companies.

Langley also said the group had looked at a number of potential acquisitions in the first half of the year, but was not currently pursuing any of them.