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28 Jan 2013 07:00
AIM: CMH
CHAMBERLIN PLC
("Chamberlin" or "the Group")
Trading Update
Chamberlin, the specialist foundry and engineering group, is providing the following update on trading for the financial year to 31 March 2013.
At half year results, we reported that there were uncertainties to the general economic outlook in 2013. Since then, market conditions for our foundry operations have materially softened and activity in several of our sectors has reduced, which has resulted in customers reducing orders or deferring them to a later date. As a result, the Board expects that the Group will deliver pre-tax profits below current market forecasts for the full year.
Notwithstanding the difficult conditions, Chamberlin remains cash generative and well-placed operationally. The Group's focus on developing customer relationships in both new and existing sectors remains and is progressing well. The Board continues to view medium term prospects positively.
Enquiries
Chamberlin plc Tim Hair, Chief Executive | T: 01922 707100
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Charles Stanley Securities (Nominated Adviser and Broker) Russell Cook / Carl Holmes | T: 020 7149 6000 | |
Biddicks (Financial PR) Katie Tzouliadis | T: 020 3178 6378 |
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