Last checked at 23 Jul 2019 07:00
AIM: CMH
CHAMBERLIN plc
("Chamberlin", the "Company" or the "Group")
AGM Statement
Chamberlin, the specialist castings and engineering group, will be holding its Annual General Meeting at 11.30am today, and Keith Butler-Wheelhouse, Chairman, will provide the following update on current trading:
"Trading conditions remain tough with reduced demand from the European Auto Industry for Turbocharger components. As previously indicated substantial cost savings are being implemented. The savings will be fully effective in the second half, with overheads right-sized for the expected level of business. The first half will bear the costs of overhead reductions.
"Looking at prospects beyond the current year, although there remains uncertainty regarding exchange rates and possible tariffs post-Brexit, the Company is making good progress with potential new business discussions.
"We look forward to updating shareholders on further developments in due course."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries
Chamberlin plc (www.chamberlin.co.uk) Kevin Nolan, Chief Executive Neil Davies, Finance Director |
| T: 01922 707100
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Cenkos Securities plc (Nominated Adviser and Broker) Russell Cook, Katy Birkin |
| T: 020 7397 8900 |
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KTZ Communications (Financial PR) Katie Tzouliadis, Dan Mahoney |
| T: 020 3178 6378 |