News blog

Chamberlin

• BY: Andrew Hore |
• POSTED: 15/10/2013 |

Foundries operator Chamberlin expects to make a loss in the year to March 2014.

Six months ago earnings per share of 9.9p were forecast for 2013-14 but since then trading has deteriorated and forecasts have been cut more than once. FinnCap has changed its forecast from a £500,000 profit to a £1.1m loss.

The Leicester and Scunthorpe foundries are losing money but the Walsall foundry is trading in line with expectations and the engineering businesses are doing well.

The management team is new. Kevin Nolan was appointed chief executive at the beginning of September. He had run a number of businesses at Doncaster Group before moving to Wall Colmonoy, a global engineering group involved in castings and engineered components, in 2012. David Roberts, who joined from Titanium Metals Corp, became finance director at the same time.

Interim figures will be published on 26 November.

At 93p a share, down 12p, Chamberlin is valued at £7.4m. There was no indication about whether a dividend would still be paid this year.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2013_48.pdf