Profit warning sends Chamberlin shares tumbling

Shares in Chamberlin plummeted after the engineering and foundry group warned full year profits would be materially below expectations.It said the first half of the financial year had been "tough" especially at its foundries in Leicester and Scunthorpe after an expected recovery in demand in their markets failed to materialise. It said: "The board expects the first half results will be below management forecasts and that is unlikely to be recovered in the second half. On this basis the group will deliver pre-tax profits materially below current market forecast for the full year."Shares in the company were down 16% to 73.5p at 08:44 on Thursday. TB