Casting's shares dropped sharply on Friday after the iron castings and machining group gave a gloomy outlook on the back of weakness in Europe.The group said it was "difficult to forecast the outcome for the remainder of the year" due to concerns over the strength of the recovery in Europe."However, the directors anticipate that the year end results will be in-line with current market expectations," the company said.The comments came as Castings revealed a 3.5% slip in first-half revenue to £63.6m, while pre-tax profit declined 12.8% to £8.3m.The company also said that an anticipated increase in volumes in the third quarter "did not materialise" and that forward schedules suggest a reduction in demand.The stock was 7.8% lower at 401.24p by 14:55.