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Chamberlin sees earnings ahead of expectations after improved second half performance

By BFN News | 09:22 AM | Thursday 12 April, 2018


Chamberlin reported Thursday that underlying earnings before interest (EBIT) is expected to be ahead of current market expectations after EBIT swung to a profit in the second half of the year, from a loss in the first half. EBIT for the full year is expected to be approximately £0.4m. While revenues in the second half were 10% higher than in the first half, and expected to total £37.7m for the year, up 17% over the last financial year. The EBIT profit delivered in the second half of the year came as the firm resolved technical problems at its new machine shop, which had weighed on first half performance. The firm said it continued to improve technical issues at its new machining facility, and production of petrol engine turbo charger components at the Walsall foundry was said to be 'progressively increasing,' in line with strong demand. At 9:22am: (LON:CMH) Chamberlin PLC share price was +9.5p at 71.5p Story provided by StockMarketWire.com

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