15th Jun 2022 12:25
Castings PLC - Brownhills, England-based iron casting and machining firm - Pretax profit for the year ended March 31 more than doubles to GBP12.1 million from GBP5.0 million the year before. Revenue rises 30% to GBP148.6 million from GBP114.7 million. Attributes this to increased external sales revenue in both its Foundry and Machining business, as well as a strong first quarter. Recommends a final dividend of 12.6 pence, taking its total payout to 16.2p, up 5.9% year-on-year from 15.3p. Notes that it is subject to large cost increases in raw materials and other input prices in order to maintain production. Says it passed these increases on to customers. Warns that costs will continue to increase in the current year. Read More
