Investors’ confidence remains fragile at foundry business
The share price of foundry business Chamberlin took another 10% tumble yesterday after it confirmed operating losses were larger than had been forecast.
Its shares hit a 10-year low last week when it first revealed that a bad debt was going to increase its operating losses for the year to March by half, to £900,000, and there would be a £3m non-cash writedown of its assets.
The Walsall-based company made a profit overall because it sold its Exidor business but is now cutting costs to get in better financial shape.
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