13th Feb 2020 17:53
AIM: CMH
13 February 2020
CHAMBERLIN PLC
("Chamberlin" or the "Company")
Trading Update
Chamberlin plc (AIM: CMH.L), the specialist castings and engineering group, announces that trading in the second half of the current year has been subdued, particularly due to the uncertainties around Brexit and in the run up to the UK general election. The Company announced previously that prospects for the business were improved following the restructuring undertaken during the first half of the year, although the full benefit of these measures will be seen in the next financial year and beyond.
As a result, sales for the second half will be slightly higher than the £12.8m reported in H1. This is expected to lead the Company to breakeven at the operating profit level in the second half and will result in an operating loss for the year broadly the same as the loss of £1.01m reported for the six months to 30 September 2019.
Looking forward the Board remains cautiously optimistic that the lower cost base and prospective pipeline will benefit Chamberlin over the years ahead.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014
Enquiries
Chamberlin plc Kevin Nolan, Chief Executive Neil Davies, Finance Director | T: 01922 707100
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Cenkos Securities plc (Nominated Adviser and Broker) Russell Cook Katy Birkin | T: 020 7397 8900 | |
KTZ Communications (Financial PR) Katie Tzouliadis Dan Mahoney | T: 020 3178 6378 |
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