15 Jun 2022
Castings Plc (CGS LN) - Initiation of coverage: Strong recovery in FY22
FY22 results show a marked recovery on the pandemic impacted FY21 numbers with volumes broadly in line with pre-Covid levels, albeit c.5% below FY19 peak. Revenue increased 29.5% to £148.6m (FY21: £114.7m) with adj operating profit of £12.0m (FY21: £4.3m), a 180% increase yoy as the margin more than doubled to 8.1% (FY21: 3.7%) benefitting from the recovery in volume and with prices increasing 4.7%. Despite the strong recovery in FY22, several important KPIs remain below pre-pandemic levels with ....
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Castings Plc (CGS LN) - Initiation of coverage: Strong recovery in FY22
Castings Public Limited Company (CGS:LON) | 365 -21.9 (-1.6%) | Mkt Cap: 158.6m
- Published:
15 Jun 2022 -
Author:
Andy Hanson -
Pages:
42
FY22 results show a marked recovery on the pandemic impacted FY21 numbers with volumes broadly in line with pre-Covid levels, albeit c.5% below FY19 peak. Revenue increased 29.5% to £148.6m (FY21: £114.7m) with adj operating profit of £12.0m (FY21: £4.3m), a 180% increase yoy as the margin more than doubled to 8.1% (FY21: 3.7%) benefitting from the recovery in volume and with prices increasing 4.7%. Despite the strong recovery in FY22, several important KPIs remain below pre-pandemic levels with ....