Engineering firm slips further into the red

Walsall engineering firm Chamberlin has slipped further into the red during the first half of its financial year due to what it is calling “tough trading conditions”.

For the six months to 30 September, revenues fell from £17.4m in 2018 to £12.8m this year, while Chamberlin sank to a loss of £1.8m on the back of a major restructuring programme.

However, the firm reported “enhanced prospects” for the second half of its financial year due to new contracts and a reduced cost base.

Chairman, Keith Butler-Wheelhouse, said: “The first half of the year has seen significant efforts going into the restructuring of the business as well as a drive to win new business. The restructuring is now, in the main, complete. Looking ahead the Board is cautiously optimistic that the lower cost base and prospective revenue gains will benefit Chamberlin over the years ahead.”