Chamberlin delivers profit after tax for the first time in five years

Chamberlin, the Walsall-based foundry operator, has delivered a full year profit after tax for the first time in five years.

The firm expects to report a small profit after tax of £100,000, revenue of £16.5m and an adjusted EBITDA of £200,000, up 112% on the prior period.

Its Petrel and Russell Ductile Castings businesses have recovered well and are in strong demand and therefore Chamberlin expects record levels of revenue and operating profit.

There has been slower recovered at Chamberlin & Hill Castings in Walsall which continues to operate at a loss.

The business has suffered due to escalating raw material costs, supply chain shortages and trading conditions.

Chamberlin says it will keep its strategy in place of reducing sole reliance on the automotive industry, diversify the customer base by pursuing more attractive markets.

The firm’s deficit in shareholders’ funds is expected to largely be eliminated this year, as a result of the restructuring actions taken by the company, a reduction in the pension deficit and improved performance across the business.

Chamberlin is now concentrating heavily on ecommerce and its Iron Foundry Weights and Emba cookware ranges.

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