AGM Statement
Castings PLC announced an interim management statement ahead of its AGM, noting improving orders from its heavy truck customer base and new business in wind energy. Despite operational efficiencies being affected in June and July due to a resolved power supply issue at the William Lee site, management anticipates the full-year result will be in line with market expectations due to continued focus on productivity, cost control, and optimisation of the new foundry line.
Select text to share a quote on X · sign in to keep highlights & notes in your CGS notes
Castings PLC ("Castings" or "the company"), the leading iron casting and machining group primarily focused on the European heavy truck market, announces a trading update ahead of the AGM being held today at 3.30pm at Castings PLC, Lichfield Road, Brownhills, West Midlands, WS8 6JZ.
As previously reported, orders and forward schedules are improving both from our traditional heavy truck customer base and from new business, largely associated with wind energy.
Whilst the power supply issue at our William Lee site was resolved at the end of May, the impact on operational efficiencies has continued which, in turn, has affected performance during June and July.
However, with continued focus on productivity, cost control and the optimisation of the new foundry line, management anticipate the full year result to be in line with market expectations.
A N Jones, Chairman
Castings plc, Lichfield Road, Brownhills, West Midlands, WS8 6JZ
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.