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Castings profit falls amid losses at CNC Speedwell components unit

By BFN News | 02:20 PM | Wednesday 13 June, 2018


Castings booked a fall in annual profit after contract delays sent its CNC Speedwell business, which provides components to the truck and auto industry, into the red. Pre-tax profit fell 24% to £12.1m, as growth in the foundry business was offset by the loss at CNC Speedwell. Castings declared a final dividend of 11.12p per share, up from 10.59p on-year. 'It appears at the present time our order book is sound and schedules are increasing,' chairman B. J. Cooke said. 'In particular demand for commercial vehicles is currently strong and it is hoped this trend will continue.' At 2:20pm: (LON:CGS) Castings PLC share price was +1p at 425p Story provided by StockMarketWire.com

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