Trading Update and Notice of Results
Castings PLC has issued a trading update for the year ending 31 March 2027, noting that while the order book remains strong, a third-party power supply issue at the William Lee site impacted first-half results, with incremental catch-up costs extending beyond power restoration. Although revenue expectations are in line with market consensus of £181.1 million, the Board is reducing its adjusted profit before tax expectation for FY27 to a level broadly consistent with the previous year, excluding historical R&D tax credits, due to unresolved production arrears. The company will announce its half-year results on 11 November 2026.
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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 in respect of the year ended 31 March 2027 ("FY27").
Whilst the order book remains strong across the group, the third-party power supply issue at our William Lee site continued to impact results in the first half of the year. As previously reported, power was restored at the end of May, but the incremental cost of catching-up production continued beyond that date.
With this power issue now behind us, management at William Lee are concentrating on the optimisation of the new foundry line.
The group is focussed on productivity and cost control to deliver on both the strong forward order book in the second half of the year and the production arrears arising from the disruption in the first half. Consequently, whilst revenue expectations remain in line with market consensus*, with production arrears not yet resolved the Board are reducing its expectations* for adjusted profit before tax for FY27 to a level broadly consistent with the profit in the previous year (excluding the historical R&D tax credits).
Notice of Results
The company intends to announce its half year results on 11 November 2026.
* Market expectations for FY27 refer to the analyst consensus compiled by the company which, prior to the release of this announcement, stood at revenue of £181.1m and adjusted profit before tax of £12.9m.
A N Jones, Chairman
Castings plc, Lichfield Road, Brownhills, West Midlands, WS8 6JZ
596/2014) as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018.
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