7th Oct 2022 13:30
Castings PLC - Brownhills, England-based iron casting and machining firm - Says underlying demand for heavy trucks remains strong during the six months that ended on September 30. Says it has seen a more "consistent conversion of forward schedules in the period". It adds: "Input price changes continue to be passed onto our customers through both established escalators and additional price increases.
Further, "The higher unit cost for power is being surcharged to our customers immediately and will therefore increase revenue in the second half of the year. This should not adversely affect group profit as it is a pass-through of a direct cost increase", Castings adds.
Looking ahead, Castings expects to trade in line with market expectations. Expects to announce half-year results on November 16.
Current stock price: 315.00 pence, up 13% on Friday afternoon
12-month change: down 9.2%
By Xindi Wei; [email protected]
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