Chamberlin Sees Return To FY Profit

LONDON (Dow Jones)--Chamberlin PLC (CMH.LN), a specialist engineering group, said Thursday it trading in the first quarter of fiscal 2011 has remained strong across all three of its foundries, and said it expects to return to profit for the full year. MAIN FACTS: -Co. seeing the benefits of second major turbocharger supply contract coming through at Walsall foundry, which produces technically complex castings. -Production volumes for this contract are in line with management expectations and further products in the development process are progressing well. -Petrel and Fred Duncombe, which together account for approximately 20% of Group revenues, are both performing in line with management expectations. -With the improving demand, a reduced cost base and production capability intact, the Board continues to be confident of a return to profitability in the year and views prospects very positively. -Shares closed Wednesday at 82 pence. -By Tommy Stubbington, Dow Jones Newswires; 44-20-7842-9268; tommy.stubbington@dowjones.com (END) Dow Jones Newswires July 29, 2010 02:45 ET (06:45 GMT)