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24 Sep 2010 07:00
AIM:CMH
CHAMBERLIN plc
("Chamberlin" or the "Group")
Pre close Trading Update
Chamberlin, the specialist engineering group, is pleased to provide the following update on trading prior to entering its close period.
The Board is pleased to confirm that, as expected, the Group has traded profitably in the first half of the current financial year. The recovery in production volumes across Chamberlin's specialist foundry businesses, which produce technically demanding castings, is now firmly established.
Total castings volumes in the first half have increased materially compared with the corresponding period last year. The recovery in light castings is underpinned by our production of specialist automotive turbocharger components and visibility of production volumes is lengthening as the Group's turbocharger manufacturing customers launch new products to meet new environmental legislation. Chamberlin's heavy castings business is also experiencing greater demand and activity has returned to pre-recession levels. As one of only three foundries in the UK capable of casting up to six tonnes in high-grade iron, Chamberlin is particularly well-positioned in the heavy castings marketplace.
The Group's two engineering businesses, Petrel and Fred Duncombe, which account for c.20% of Group revenues, are both trading in line with management expectations.
The Board remains confident of continuing progress and expects to announce half year figures towards the end of November 2010.
For further information, please contact:
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Chamberlin plc |
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T: 01922 707100 |
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Tim Hair, Chief Executive |
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Mark Bache, Finance Director |
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Charles Stanley Securities Nominated Adviser |
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T: 020 7149 6000 |
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Russell Cook / Luke Webster |
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Biddicks |
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T: 020 7448 1000 |
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Katie Tzouliadis |
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