‘All businesses profitable’ for engineering group

Chamberlin, the Walsall-based foundry operator, has said it is entering a “period of continuous growth with all businesses profitable” in January 2023.

Revenues in the first six months increased by 32% to £10.5m compared to £8m the previous year.

In the second half of the year, Chamberlin expects to continue this growth, supported by strong order books at RDC and Petrel and the commencement of new contracts recently won by CHC.
Operational performance of the firm was impacted by inflationary cost pressures, primarily at CHC, with the underlying loss before tax increasing slightly to £300,000 (H1 2022: £0.1m). However, it has aimed to address these issues through price increases and further cost savings.

Despite these cost pressures, both Petrel and RDC delivered strong operating performances, with operating profit increasing by 78% and 11% respectively, compared with the prior period.

Talks are also underway for the proposed sale and leaseback transaction at its Walsall freehold property with an offer made worth £2.2m. The sale would include a proportion of any funds to be used to further reduce the Company’s pension fund deficit.

Chairman, Keith Butler-Wheelhouse, commented: “All operating businesses within the group are now operationally profitable, with new opportunities for growth continuing to emerge, the most significant being the newly reinvigorated Petrel”.