CMH Chamberlin Plc

TIDMCMH

RNS Number : 6331K

Chamberlin PLC

12 April 2018

AIM: CMH

12 April 2018

CHAMBERLIN plc

("Chamberlin" or "the Company")

Trading Update

Chamberlin, the specialist castings and engineering group, is pleased to provide an update on trading for the financial year to 31 March 2018.

As expected, the Company delivered a significantly improved second half performance, reflecting the progress made towards resolving the technical problems at the new machine shop. Underlying earnings before interest and tax ("EBIT") have moved from a loss in the first half to a profit in the second half, and EBIT for the full year is expected to be approximately GBP0.4m, which is ahead of current market expectations. Revenues in the second half were 10% higher than in the first half, and are expected to total GBP37.7m for the year, an increase of 17% over the last financial year (2017: GBP32.1m).

The technical issues at the Company's new machining facility continue to improve, and production of petrol engine turbo charger components at the Walsall foundry is progressively increasing, in line with strong demand. New products for machining are also being introduced.

The Board intends to publish the Company's preliminary results in early June 2018, when a further update on current trading will be also 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/Emma Pearson 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 12, 2018 02:00 ET (06:00 GMT)

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