Chamberlin revenue jumps 25%

Specialist castings and engineering group Chamberlin said half yearly revenue rose by a quarter and it expects full year results to be in line with current market forecasts. Revenues rose to £23m for six months ended 30 September 2011 from £18.3m a year earlier. The maker of safety and security products reported pre-tax profit of £797,000, up fivefold from £163,000 a year before. Statutory pre-tax profit soared to £710,000 from £91,000 in 2010.The strong performance was driven by improved demand from established customers, new business initiatives and operational improvements, Chamerlin said. The group has returned to dividend payments at the full year, and have declared an interim dividend of 1p per share."Chamberlin's existing operations continue to make good progress and with our sound financial base we are well placed to exploit the organic growth opportunities that we continue to identify. At the same time, we are also considering acquisitions which will expand our activities," the group said in a statement. Looking ahead it added, "While uncertainties have inevitably increased due to the wider European and global economic picture, at this point in the financial year we believe that Chamberlin remains well positioned to meet current market expectations."--cj