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Castings PLC (CGS)

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Wednesday 01 May, 2019

Castings PLC

Pre-Close Trading Update

RNS Number : 6466X
Castings PLC
01 May 2019
 

Castings PLC

Pre-Close Trading Update

 

Castings PLC announces a trading update in respect of the year ended 31 March 2019 ahead of releasing its final results for the year on 12 June 2019.

 

Following strong demand during the second half of the financial year, which included some customer stock building, the company expects to report final results for the year ended 31 March 2019 ahead of market expectations.

 

The foundries have seen improved margins during the second half with enhanced productivity and a reversal in the time lag in passing on raw material price increases. The management initiatives implemented in the machining business have started to positively impact results, particularly in the final quarter of the year, although it will still take time for these to be fully realised.

 

 

S J Mant

Director and Company Secretary

Castings PLC, Lichfield Road, Brownhills, West Midlands, WS8 6JZ 


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