13th Nov 2015 08:56
LONDON (Alliance News) - Iron castings and machining group Castings PLC on Friday said its first-half pretax profit edged up thanks to higher revenue.
Castings said is pretax profit in the half to the end of September was GBP9.5 million, up from GBP8.3 million a year earlier, as revenue rose to GBP65.0 million from GBP63.6 million.
The group said its sales revenue was held back by lower raw materials prices, though volumes were broadly in line. The group said it is on track to meet market expectations for the full year, though it said any "sudden and unexpected change in the economic climate" may affect this.
It will pay an interim dividend of 3.38 pence per share, up from 3.22p a year earlier.
Shares in Castings were down 2.7% to 459.75p on Friday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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