Final Results

Castings PLC
25 May 2001

AT A BOARD MEETING I WAS AUTHORISED TO RELEASE THE FOLLOWING DETAILS IN
RESPECT OF CASTINGS PLC AND ITS WHOLLY OWNED SUBSIDIARY COMPANIES FOR THE YEAR
ENDED 31 MARCH 2001:


SUMMARISED GROUP PROFIT AND LOSS ACCOUNT
                                           YEAR ENDED           YEAR ENDED
                                              2001                 2000
                                              £000                 £000  

TURNOVER                                     55,475               55,939
                                             ______               ______ 
OPERATING PROFIT                              8,778                9,183

EXCEPTIONAL OPERATING EXPENSES                                    
  -NET CLOSURE COSTS OF W.H BOOTH                 -                 (536) 
OTHER INCOME                                  1,948                1,573
                                             ______               ______
PROFIT BEFORE TAXATION                       10,726               10,220

TAXATION ON PROFITS                           3,193                3,000
                                              _____                _____
PROFIT ATTRIBUTABLE TO SHAREHOLDERS           7,533                7,220
                                              _____                _____
INTERIM DIVIDEND ALREADY PAID                 2.18PENCE           2.12PENCE
-PENCE PER SHARE
RATE OF FINAL DIVIDEND PROPOSED (PENCE)       5.32PENCE           5.04PENCE
AMOUNT ABSORBED BY DIVIDENDS(£000)           £3,269              £3,123     
                                                                              
EARNINGS PER SHARE - PENCE                    17.27PENCE           16.56PENCE
DILUTED EARNINGS PER SHARE - PENCE            17.23PENCE           16.50PENCE 

THE EARNINGS PER SHARE ARE BASED ON THE WEIGHTED AVERAGE NUMBER OF SHARES IN
ISSUE OF 43,631,652 IN 2001 AND 43,596,735 IN 2000.DILUTED EARNINGS PER SHARE
ARE BASED ON 43,731,652 SHARES BEING THE WEIGHTED AVERAGE NUMBER OF SHARES IN
ISSUE AFTER ADJUSTMENT FOR THE EFFECT OF DILUTIVE SHARE OPTIONS
(2000:43,746,735).

SUMMARISED GROUP BALANCE SHEET
                                            31 MARCH 2001        31 MARCH 2000
                                                 £000                  £000
TANGIBLE ASSETS                               19,385                17,949
INVESTMENTS                                      704                   694
CURRENT ASSETS 
STOCKS                                         3,726                 3,409
DEBTORS                                       11,703                12,018
CASH AT BANK                                  33,288                30,455
                                              ______                ______
                                              48,717                45,882
CREDITORS - UNDER ONE YEAR                   (14,970)              (14,882)
                                              ______                ______
NET CURRENT ASSETS                            33,747                31,000
PROVISIONS FOR LIABILITIES/CHARGES              (148)                 (148)
                                              ______                ______
                                              53,688                49,495
                                              ______                ______
CAPITAL AND RESERVES                                   
CALLED UP SHARE CAPITAL                        4,358                 4,361
SHARE PREMIUM                                    680                   748
RESERVES                                      48,650                44,386
                                              ______                ______
                                              53,688                49,495
                                              ______                ______


SUMMARISED CASH FLOW STATEMENT               31 MARCH 2001       31 MARCH 2000
                                                £000                 £000
NET CASH INFLOW FROM OPERATING ACTIVITIES      11,735                9,708
RETURNS ON INVESTMENTS AND SERVICING OF FINANCE:
INTEREST RECEIVED                               1,948                1,573
TAXATION                                       (3,191)              (3,976)
CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT:
PURCHASE OF TANGIBLE FIXED ASSETS              (4,384)              (2,302)   
INVESTMENTS MADE                                  (10)                   -
SALE OF TANGIBLE FIXED ASSETS                      54                  159
EQUITY DIVIDENDS PAID                          (3,150)              (3,016)
                                                _____                _____
CASH INFLOW BEFORE USE OF LIQUID RESOURCES      3,002                2,146
AND FINANCING
MANAGEMENT OF LIQUID RESOURCES:
INCREASE IN SHORT-TERM DEPOSITS                (2,535)              (1,376)
FINANCING:
CHANGE IN ORDINARY SHARE CAPITAL                  (71)                  42
                                                  ___                 ____ 
INCREASE IN CASH                                  396                  812
                                                  ___                 ____ 
RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS
INCREASE IN CASH IN THE PERIOD                    396                  812
INCREASE IN LIQUID RESOURCES                    2,545                1,375
                                                _____                _____
CHANGE IN NET FUNDS FROM CASH FLOWS             2,941                2,187
OPENING NET FUNDS                              31,051               28,864
                                               ______               ______
CLOSING NET FUNDS                              33,992               31,051
                                               ______               ______    

THE RESULTS FOR THE YEAR TO 31 MARCH 2001 HAVE BEEN EXTRACTED FROM THE
FINANCIAL STATEMENTS FOR THE YEAR WHICH HAS BEEN AUDITED AND WILL BE FILED
WITH THE REGISTRAR OF COMPANIES.THE RESULTS FOR THE YEAR TO 31 MARCH 2000 ARE
AN ABRIDGED VERSION OF THE COMPANY'S FULL ACCOUNTS FOR THAT YEAR WHICH
RECEIVED AN UNQUALIFIED REPORT BY THE AUDITORS AND HAVE BEEN FILED WITH THE
REGISTRAR OF COMPANIES.


THE ANNUAL GENERAL MEETING WILL BE HELD ON TUESDAY 14 AUGUST 2001 AND IF THE
PROPOSED FINAL DIVIDEND IS APPROVED BY THE MEMBERS,THE DIVIDEND WILL BE PAID
ON FRIDAY 17 AUGUST 2001.  THE RECORD DATE WILL BE 20 JULY 2001.

IT IS PLEASING TO REPORT INCREASED PROFITS FROM A SLIGHTLY REDUCED TURNOVER,
HELPED BY INCREASED INVESTMENT INCOME.  THE RESULTS ARE CONSIDERED COMMENDABLE
AGAINST A BACKGROUND OF A STRONG POUND, MARKET PRESSURES AND UNCERTAIN
ECONOMIC BACKGROUND IN MANUFACTURING.

IT IS ALSO SATISFYING TO REPORT DIRECT EXPORT SALES AMOUNT TO 44% OF OUR TOTAL
AGAINST 35% LAST YEAR. HOWEVER WORLD MARKETS FOR THE COMMERCIAL VEHICLE
INDUSTRIES HAVE SEEN A REDUCTION OF ABOUT 15% IN THE LAST THREE MONTHS.  AS A
MAJOR SUPPLIER TO THESE INDUSTRIES WE HAVE THEREFORE SEEN A REDUCTION IN
DEMAND FOR OUR PRODUCTS.  THE EFFECT HAS BEEN PARTLY OFFSET BY AN INCREASE
FROM THE RAILWAY AND ASSOCIATED INDUSTRIES.

DURING THE LAST FINANCIAL YEAR THE COMPANY HAS INVESTED £4.38M ON CAPITAL
EXPENDITURE AND IS ANTICIPATED TO INVEST A FURTHER £6M SPREAD OVER THIS YEAR
AND NEXT.

THE COMPANY CONTINUES TO OBTAIN NEW BUSINESS FROM EXISTING AND NEW CUSTOMERS
AND DESPITE CURRENT WORLD ECONOMIC PROBLEMS VIEWS THE LONG-TERM PROSPECTS AS
ENCOURAGING.

B J COOKE. CHAIRMAN.
CASTINGS PLC. LICHFIELD ROAD. BROWNHILLS. WEST MIDLANDS. WS8 6JZ