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Chamberlin

  • BY: Andrew Hore |
  • POSTED: 31/07/2014 |

Profit forecasts for Chamberlin have been doubled on the back of a positive AGM statement.

Cost reductions have been better than expected and there are more to come for the foundries operator. The foundries have to be merged into one division and quality problems have been addressed. This means that although trading is in line with expectations the forecast profit for the year to March 2014 has increased from £400,000 to £800,000. There has been a more modest upgrade from £800,000 to £900,000 in 2015-16.

At 87p a share, up 9p, Chamberlin is valued at £7m. The shares are trading on nine times prospective 2014-15 earnings, helped by past tax losses, falling to eight in 2015-16.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2014_58.pdf

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