Chamberlin PLC - West Midlands-based castings and engineering company - Expects to swing to a profit in its financial year that ended May 31. Expects post-tax profit of £100,000. Anticipates annual revenue of £16.5 million, down from £22.7 million in the 14 months that ended May 31, 2021.
Says that ‘all three operating divisions have made a strong start to financial year 2023 with higher than expected levels of orders for the first quarter of 2023 and strong ongoing order books.’ Adds: ‘The group is well positioned to continue its recovery and expects to return to a more sustainable level of profitability, having taken the appropriate steps to reduce its cost base and invest in new growth strategies for each business.’
Aims to release its annual report in September.
Current stock price: 4.83 pence, up 1.7% on Friday
12-month change: down 55%
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