CGS Castings Plc

TIDMCGS

RNS Number : 6547X

Castings PLC

14 August 2018

Castings plc

Interim Management Statement and AGM

Castings plc will be holding its Annual General Meeting this afternoon at The Fairlawns Hotel and Spa and at the meeting the Chairman, Brian Cooke, will make the following statement.

Demand from our main customers' remains strong which represents a continuation of the outlook reported in the Chairman's statement in June.

The new management team continue to progress the turnaround project at CNC Speedwell. Whilst we still expect the trading results of the machining business to improve during the second half, the level of reorganisation is such that we do not foresee it returning to profitability during this financial year. As part of the reorganisation, we are closing the Fradley site and consolidating the machining business to operate from the newly built facility at Brownhills.

Our investment remains focused on production techniques and technologies to improve our productivity and profitability.

B.J.Cooke, Chairman

Castings plc, Lichfield Road, Brownhills, West Midlands WS8 6JZ

14(th) August 2018

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

AGMZXLFFVVFLBBF

(END) Dow Jones Newswires

August 14, 2018 02:00 ET (06:00 GMT)

Castings (LSE:CGS)
Historical Stock Chart
From Apr 2024 to May 2024

Castings (LSE:CGS)
Historical Stock Chart
From May 2023 to May 2024