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Pin to quick picksChamberlin & Hill Regulatory News (CMH)

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Trading update

21 Nov 2016 07:00

RNS Number : 6530P
Chamberlin PLC
21 November 2016
 

AIM: CMH

 

CHAMBERLIN plc

("Chamberlin" or "the Company" or "the Group")

 

 

Trading Update

 

 

Chamberlin, the specialist castings and engineering Group, announces an update on trading for the financial year to 31 March 2017.

 

Trading in the first half of the financial year has been in line with management expectations and the Company's investment in a new machining facility in Walsall is progressing well and is expected to generate incremental sales from January 2017.

 

Demand at the Company's foundry in Leicester, which produces mid-size castings, continues to be subdued and while the cost base has been reduced to ensure a lower breakeven point, as previously reported, the management has taken the difficult decision to cease production. Accordingly, an orderly wind-down is now commencing and should conclude by the end of 2016. The closure of the foundry is not expected to impact existing market forecasts for underlying profit before tax for the current financial year. As in prior years, Chamberlin's performance is expected to be weighted towards the second half.

 

In the financial year to 31 March 2016, the Leicester foundry contributed sales of £5.9m and an underlying profit before tax of £420,000. In the first half of the current financial year, Leicester contributed sales of approximately £1.8m and an underlying profit before tax of approximately £46,000.

 

Management continues to view prospects for improved performance positively, helped by the increase in opportunities available as a result of the new machining capability as well as growth at Exidor, which produces architectural ironmongery, and Petrel, which designs and supplies specialist lighting. In addition, as net exporters of UK manufactured products, all Chamberlin's operations should benefit from the current weak sterling, with the financial impact more evident in the next financial year as the Company's pre-Brexit currency hedges unwind.

 

The Company expects to publish interim results on 29 November 2016.

 

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

 

 

 

 

Panmure Gordon

(Nominated Adviser and Broker)

Adam James / Peter Steel

 

T: 0207 886 2500

 

 

 

KTZ Communications

(Financial PR)

Katie Tzouliadis/ Viktoria Langley/ Emma Pearson

 

T: 020 3178 6378

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTPGGUAGUPQGAU
Date   Source Headline
27th Feb 20241:24 pmRNSHolding(s) in Company
22nd Feb 20247:00 amRNSCompletion of Sale of Petrel Limited
21st Feb 202412:01 pmRNSSale of Petrel Limited
21st Feb 202412:00 pmRNSInterim Results
18th Jan 20243:34 pmRNSHolding(s) in Company
16th Jan 20241:20 pmRNSHolding(s) in Company
11th Jan 20246:26 pmRNSHolding(s) in Company
10th Jan 20245:12 pmRNSHolding(s) in Company
9th Jan 20247:00 amRNSPlacing and Subscription
3rd Jan 20242:41 pmRNSResult of AGM and Trading Update
15th Dec 20237:00 amRNSCorporate Update
30th Nov 20231:40 pmRNSFinal Results
28th Nov 20235:00 pmRNSHolding(s) in Company
24th Oct 20234:22 pmRNSChange of Nominated Adviser and Joint Broker
18th Oct 20232:14 pmRNSHolding(s) in Company
27th Jul 20232:00 pmRNSGrant of Share Options
24th Jul 202310:17 amRNSDirector/PDMR Shareholding
22nd Jun 20232:03 pmRNSMajor Contract Win
8th Jun 20237:00 amRNSHolding(s) in Company
26th May 20237:00 amRNSPlacing and Subscription
2nd May 20233:42 pmRNSSale and Leaseback of Walsall Property
28th Feb 20237:00 amRNSHalf-year Report
2nd Feb 20234:14 pmRNSHolding(s) in Company
1st Feb 20235:24 pmRNSHolding(s) in Company
1st Feb 20237:00 amRNSHolding(s) in Company
26th Jan 202311:53 amRNSPlacing and Subscription
19th Dec 202211:00 amRNSHolding(s) in Company
16th Dec 20221:49 pmRNSCorporate Update
30th Nov 202211:37 amRNSResult of AGM
30th Nov 20227:00 amRNSAGM Statement and Trading Update
21st Nov 20222:44 pmEQSChamberlin PLC 'left no stone unturned' during return to profit
7th Nov 20225:31 pmRNSPosting of Annual Report and Notice of AGM
4th Nov 202212:23 pmRNSFinal Results
31st Oct 202211:32 amRNSAnnouncement re: Full year results
29th Sep 20227:00 amRNSAnnouncement re: Full year results
29th Jul 20227:00 amRNSIssue of Equity and Director/PDMR Shareholding
25th Jul 20225:30 pmRNSDirector/PDMR Shareholding
18th Jul 20227:00 amRNSHolding(s) in Company
8th Jul 20225:20 pmRNSDirector/PDMR Shareholding
8th Jul 20227:00 amRNSFull Year Trading Update and Notice of Results
8th Jun 20229:42 amRNSDirector/PDMR Shareholding
5th May 20221:13 pmRNSSale and Leaseback of RDC Property
25th Mar 20227:00 amRNSDirector/PDMR Shareholding
18th Mar 20222:30 pmRNSDirector/PDMR Shareholding
24th Feb 20227:00 amRNSHolding(s) in Company
21st Feb 20227:00 amRNSHolding(s) in Company
18th Feb 202210:30 amRNSResult of General Meeting and Total Voting Rights
2nd Feb 20227:00 amRNSProposed Placing and Subscription and Notice of GM
5th Jan 202212:15 pmRNSResult of AGM
4th Jan 20227:00 amRNSContract Award

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