News blog

Chamberlin

  • BY: Andrew Hore |
  • POSTED: 18/07/2013 |

Trading in the first half continued to be weak for foundries operator Chamberlin and it will not achieve profit expectations for the year to March 2014. 

The hoped-for recovery has not materialised. Delays launching new products by customers have not helped and the interim shortfall will not be made up for in the second half. Demand from turbocharger manufacturers remains at expected levels and there is scope for further growth.

At 76p a share, down 11.5p, Chamberlin is valued at £6.05m. If the dividend is maintained at 3.25p a share then the yield would be 4.3%. However, the forecast 2013-14 earnings per share have been slashed from 9.8p to 4.3p. That means that the dividend would be covered 1.3 times.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2013_46.pdf

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