Final Results

Castings PLC
20 May 2005


CASTINGS PLC
RESULTS FOR YEAR ENDED 31 MARCH 2005

SUMMARISED GROUP PROFIT AND LOSS ACCOUNT

                                            YEAR ENDED     YEAR ENDED
                                                  2005           2004
                                                  £000           £000
TURNOVER                                        69,037         61,176
                                               --------       --------

OPERATING PROFIT                                 8,932          7,676
EXCEPTIONAL ITEMS-PENSION COSTS (500)             (366)             -
SALE OF PROPERTY 134
OTHER INCOME                                     1,066          1,017
                                                -------        -------
PROFIT BEFORE TAXATION                           9,632          8,693
TAXATION ON PROFITS                             (2,840)        (2,614)
                                              ---------      ---------
PROFIT ATTRIBUTABLE TO SHAREHOLDERS              6,792          6,079
                                               -------        -------

INTERIM DIVIDEND ALREADY PAID                2.44PENCE      2.38PENCE
-PENCE PER SHARE
RATE OF FINAL DIVIDEND PROPOSED (PENCE)      6.35PENCE      6.05PENCE
AMOUNT ABSORBED BY DIVIDENDS(£000)              £3,835         £3,678
EARNINGS PER SHARE -BASIC                   15.57PENCE     13.93PENCE
                   -ADJUSTED                16.41PENCE     13.93PENCE
(EXCLUDING EXCEPTIONAL ITEMS)     
                   -DILUTED                 15.57PENCE     13.93PENCE

THE EARNINGS PER SHARE ARE BASED ON THE WEIGHTED AVERAGE NUMBER OF SHARES IN
ISSUE OF 43,632,068 IN 2005 AND IN 2004.DILUTED EARNINGS PER SHARE ARE BASED ON
43,632,068 SHARES BEING THE WEIGHTED AVERAGE NUMBER OF SHARES IN ISSUE AFTER
ADJUSTMENT FOR THE EFFECT OF DILUTIVE SHARE OPTIONS (2004:43,632,068).


SUMMARISED GROUP BALANCE SHEET
                                     31 MARCH 2005      31 MARCH 2004
                                               £000               £000
TANGIBLE ASSETS                              33,163             31,043
INVESTMENTS                                     630                704
CURRENT ASSETS
STOCKS                                        5,459              4,527
DEBTORS                                      16,781             13,697
CASH AT BANK                                 25,074             25,393
                                             ______             ______
                                             47,314             43,617
CREDITORS - UNDER ONE YEAR                  (17,096)           (14,855)
                                             ______             ______
NET CURRENT ASSETS                           30,218             28,762
PROVISIONS FOR LIABILITIES/CHARGES           (1,919)            (1,374)
                                             ______             ______
                                             62,092             59,135
                                            --------           --------

CAPITAL AND RESERVES
CALLED UP SHARE CAPITAL                       4,363              4,363
SHARE PREMIUM                                   874                874
RESERVES                                     56,855             53,898
                                             ______             ______
                                             62,092             59,135
                                             --------           --------



SUMMARISED CASH FLOW STATEMENT          31 MARCH 2005    31 MARCH 2004
                                                 £000             £000
NET CASH INFLOW FROM OPERATING
ACTIVITIES:
OPERATING PROFIT NET OF EXCEPTIONAL ITEMS       8,566            7,676
NON-CASH ITEM--DEPRECIATION                     4,617            4,472
CHANGES IN WORKING CAPITAL                     (2,083)          (3,935)
                                               ______           ______
                                               11,100            8,213
RETURNS ON INVESTMENTS AND SERVICING
OF FINANCE:
INTEREST RECEIVED                               1,066            1,017
TAXATION                                       (2,120)          (2,311)
CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT:
PURCHASE OF TANGIBLE FIXED ASSETS              (7,496)          (3,481)
INVESTMENTS SOLD                                   74                -
SALE OF TANGIBLE FIXED ASSETS                     761               33
EQUITY DIVIDENDS PAID                          (3,704)          (3,600)
                                              _______          _______
CASH OUTFLOW BEFORE USE OF LIQUID RESOURCES      (319)            (129)
AND FINANCING
MANAGEMENT OF LIQUID RESOURCES:
INCREASE IN SHORT-TERM DEPOSITS                  (161)             942
FINANCING:
CHANGE IN ORDINARY SHARE CAPITAL                    -                -
                                                 ____             ____
DECREASE IN CASH                                 (480)             813
                                                -------            -----

RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET
FUNDS
DECREASE IN CASH IN THE PERIOD                   (480)             813
INCREASE IN LIQUID RESOURCES                       87             (942)
                                              _______           ______
CHANGE IN NET FUNDS FROM CASH FLOWS              (393)            (129)
OPENING NET FUNDS                              26,097           26,226
                                               ______           ______
CLOSING NET FUNDS                              25,704           26,097
                                               --------         --------

THE RESULTS FOR THE YEAR TO 31 MARCH 2005 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 2004 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.

IT IS PLEASING TO REPORT THAT OPERATING PROFITS HAVE RECOVERED FROM LAST YEAR.

RAW MATERIAL PRICES STABILISED AFTER DECEMBER AND WE ARE NOW RECOVERING SOME OF
THE COST INCREASES. I AM PLEASED TO REPORT THAT RAW MATERIAL PRICES ARE NOW
FALLING TO MORE REASONABLE LEVELS. HOWEVER, THIS IS USUALLY INDICATIVE OF A
REDUCTION IN CUSTOMER ORDERS AND SCHEDULES, AND OVERALL WORLDWIDE DEMAND.

CASTINGS BROWNHILLS HAVE CONTINUED TO OPERATE ON A SOUND AND PROFITABLE BASIS.
CNC SPEEDWELL HAS ENJOYED A YEAR OF INCREASED TURNOVER AND PROFITS, WHILE
WILLIAM LEE HAS RETURNED TO SATISFACTORY PROFITS FOLLOWING A PERIOD OF
COMPLETING FIXED PRICE CONTRACTS WITH NO RECOVERY OF RAW MATERIAL PRICES DURING
MUCH OF THE YEAR.

TOO MUCH IS WRITTEN ABOUT BRITISH MANUFACTURING TO THE DETRIMENT OF THOSE THAT
ARE SUCCESSFUL, AND IT IS HOPED THAT ONCE THE RECENT HIGH PROFILE CLOSURES IN
THIS SECTOR ARE OUT OF THE WAY WE CAN ALL MOVE FORWARD AND SHOW
THE WORLD WE MANUFACTURE AND DELIVER ON TIME GOOD QUALITY PRODUCTS AT
COMPETITIVE WORLD PRICES.

THE ANNUAL GENERAL MEETING WILL BE HELD ON TUESDAY 16 AUGUST 2005 AND IF THE
PROPOSED FINAL DIVIDEND IS APPROVED BY THE MEMBERS,THE DIVIDEND WILL BE PAID ON
FRIDAY 19 AUGUST 2005.THE RECORD DATE WILL BE 22 JULY 2005.

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



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