City briefs: Castings bemoans suppy chain issues; The Works optimistic over Xmas sales
Register for free to receive latest news stories direct to your inboxRegister
Walsall-based manufacturer Castings says its six months to the end of September have been impacted by supply chain disruption which has affected its commercial vehicle customers – who represent 70% of group revenue.
The firm revenues came in at £69.7m for the period – up from £41.7m last year – with a profit of £5.4m against a loss of £630,000 in 2020.
Castings has also been hampered by recruitment difficulties, meaning it closed its machining business for a week at the end of September.
A statement from the company said: “The group is well positioned to see the benefits of the productivity improvements in both the foundry and machining businesses when supply chain restrictions do ease.”