Foundry group Chamberlin confident of full year profits

WALSALL-based foundry group Chamberlin has said it expects to deliver pre-tax profits in line with current market expectations despite the softening of its markets.

The group had said in January that market conditions for its foundry operations had declined since the half year stage with reduced or deferred orders. As a result it had forecast profits below expectations.

Its mood was more upbeat in a full-year trading update today.

It said: “The board is pleased to confirm that it expects the group to deliver pre-tax profits for the full year in line with current market expectations of approximately £1.3m following the softer market conditions encountered in the second half.

“The group continues to generate positive cash flows and net debt at the year end is expected to close materially lower than the same point last year, at below £1.0m.”  

The firm, which produces complex castings for the turbocharger industry, will announce its full year results on May 21, 2013.

Its Walsall foundry is a well-established supplier of bearing housings for both passenger car and commercial diesel turbochargers.

Its non-foundry businesses include Exidor, a UK market leader in specialist emergency exit hardware and the door closer market.
 

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