Last checked at 11 Apr 2017 07:00
AIM: CMH
11 April 2017
CHAMBERLIN plc
("Chamberlin" or "the Company")
Trading Update
Chamberlin, the specialist castings and engineering group, is pleased to announce an update on trading for the financial year to 31 March 2017.
Results for the year are expected to be in line current market forecasts, with a strengthened performance in the second half. In particular, underlying profitability will be ahead of the prior year.
The Company's new machining facility in Walsall was officially opened at the end of March, and is expected to help drive additional growth opportunities as well as support existing contracts. As planned, the foundry in Leicester was taken out of production at the end of February 2017, and the decommissioning process is anticipated to conclude by the end of calendar year 2017.
The outlook for Chamberlin's continuing progress remains very positive and the Board looks forward to providing a further update on trading towards the end of May 2017 with the publication of the Company's preliminary results.
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 David Roberts, Finance Director | T: 01922 707100
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Smith & Williamson (Nominated Adviser and Broker) Russell Cook/Katy Birkin | T: 02071314000 | |
KTZ Communications (Financial PR) Katie Tzouliadis/Emma Pearson | T: 020 3178 6378 |
About Chamberlin
Chamberlin, based in Walsall, is a specialist castings and engineering business.
The company's castings operations produce high quality iron castings in various metal grades and weights, and supplies a number of sectors, including automotive, construction, power generation, steel and rail.
Chamberlin's engineering operations develop panic and emergency exit door hardware, and lighting and control equipment for hazardous areas.