A profit warning from foundry and engineering group Chamberlin sent the shares clattering down 13 per cent.The new management team appointed at the AIM-listed company in September said the current year was likely to produce a loss before tax.In July Chamberlin had guided towards full-year profits, admittedly "materially lower" than originally predicted, after a slowdown in certain areas of the business.Tuesday's revised guidance arose from a review of Chamberlin's current financial forecasts by new Chief Executive Kevin Nolan and Finance Director David Roberts conducted in light of the continuing difficult current trading conditions. The company, whose slogan is "difficult things, done well", said trading since the beginning of the new financial year in April has been especially tough for the medium and heavy castings foundries at Leicester and Scunthorpe, which have continued to see a slowdown and are expected to generate an operating loss for the current year. On publication of Chamberlin's final results in May, previous Chief Executive Tim Hair said he expected to see "prevailing softer market conditions persist over the first half of the new financial year" but trusted demand would return over the medium and long term.However, in July Hair admitted demand for its foundries had not recovered and this, combined with delays on the launch of new products by some customers, had reduced sales expectations and warned it would deliver pre-tax profits "materially below current market forecasts for the full year".On Tuesday Nolan and Roberts said the third foundry, in Walsall, was performing in line with previous forecasts, with its automotive turbocharger activity at expected levels. More upside was noted in the group's engineering businesses, which last year contributed less than a quarter of revenues, where trading was "at or above" management forecasts.Shares in Chamberlin were down 12.9% to 91.5p at 11:16 on Tuesday.OH