Castings, the UK’s leading iron castings business, announced FY17 PTP down 19% to £15.9m but ahead of our £15.4m estimate. Softening demand resulted in lower foundry volume which was compounded by the previously announced ending of a major contract at its machining business. The statement indicates that customer requirements are “forecast to remain steady” and the key focus currently is on improving productivity including through investment in automation.
14 Jun 2017
Solid results against a challenging backdrop
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Solid results against a challenging backdrop
Castings Public Limited Company (CGS:LON) | 329 0 0.0% | Mkt Cap: 143.0m
- Published:
14 Jun 2017 -
Author:
Ian Berry -
Pages:
6
Castings, the UK’s leading iron castings business, announced FY17 PTP down 19% to £15.9m but ahead of our £15.4m estimate. Softening demand resulted in lower foundry volume which was compounded by the previously announced ending of a major contract at its machining business. The statement indicates that customer requirements are “forecast to remain steady” and the key focus currently is on improving productivity including through investment in automation.