Trading Update

RNS Number : 5738J

Chamberlin PLC

18 July 2013

 



 

 

AIM: CMH

CHAMBERLIN plc

("Chamberlin" or "the Group")

Trading Update

Chamberlin, the specialist foundry and engineering group, is providing the following update on trading for the year to 31 March 2014.

As reported in our final results statement, we have seen a slowdown in certain areas of the business, especially since the fourth quarter, and the first half of the new financial year to date has been tough. This is especially true of our foundries at Leicester and Scunthorpe, where we had expected some recovery in their markets after a particularly low period of demand around the year end. However, demand in these sectors has not yet recovered and this, combined with delays on the launch of new products by some customers, has reduced our sales expectations for the year.

As a result the Board expects that the first half results will be below management forecasts, and that it is unlikely to be recovered in the second half.  On this basis the Group will deliver pre-tax profits materially below current market forecasts for the full year. 

Turbocharger activity is at expected levels and we continue to make good progress on developing relationships with new customers across a number of sectors. Chamberlin remains well positioned to make progress as the cycle improves and the Board considers that prospects for the medium term are positive.

Enquiries

Chamberlin plc Tim Hair, Chief Executive		T: 01922 707100
Charles Stanley Securities                                                  (Nominated Adviser and Broker) Russell Cook / Carl Holmes		T: 020 7149 6000
Biddicks (Financial PR) Katie Tzouliadis		T: 020 3178 6378

 

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