Chamberlin PLC Trading Update (8656T)
October 18 2017 - 2:00AM
UK Regulatory
TIDMCMH
RNS Number : 8656T
Chamberlin PLC
18 October 2017
AIM: CMH
18 October 2017
CHAMBERLIN plc
("Chamberlin" or "the Company" or "the Group")
Trading Update
Chamberlin, the specialist castings and engineering group,
announces an update on trading for the financial year to 31 March
2018.
Revenues for the first six months of the current financial year
are in line with management expectations, reflecting overall good
levels of demand across the foundry and engineering businesses.
However, margins within the Group's foundry businesses have been
adversely affected by production issues. At the new machining
facility technical difficulties have created cost inefficiencies
and extended cycle times. The Company is addressing these issues
and is working very closely with the machine and tooling suppliers
to rectify the situation.
While management still expects Group revenues for the year to be
substantially ahead of the prior year, underlying profits are now
expected to be in-line year with the prior year.
The two engineering operations, Exidor and Petrel, continue to
trade in line with expectations, and demand for turbo charger
bearing housings, a key growth driver for the Group, continues to
grow.
Results for the half year to 30 September 2017 are expected to
be published towards the end of November 2017, when a further
update on current trading will be provided.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries
Chamberlin plc (www.chamberlin.co.uk) T: 01922 707100
Kevin Nolan, Chief Executive
David Roberts, Finance Director
Smith & Williamson T: 020 7131
(Nominated Adviser and Broker) 4000
Russell Cook, Katy Birkin
KTZ Communications T: 020 3178
(Financial PR) 6378
Katie Tzouliadis, Irene Bermont-Penn,
Emma Pearson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 18, 2017 02:00 ET (06:00 GMT)
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