Castings has released a trading update for the year to March highlighting lower-than-expected volumes in its main foundry and machining business due to underlying market demand, incurring electricity forward contract penalty costs as a result, and higher start-up costs for its new business in Scunthorpe. Zeus lower FY25 underlying PBT forecasts by 40% to £6.0m, showing one-off costs (£2.5m-£3.0m) as underlying at this stage. Due to caution on the macroeconomic outlook, we reduce volumes in FY26 ....
