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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Chamberlin Plc | LSE:CMH | London | Ordinary Share | GB0001870228 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.25 | 1.20 | 1.30 | 1.25 | 1.25 | 1.25 | 101,496 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Engineering Services | 20.72M | -125k | -0.0007 | -17.86 | 2.24M |
TIDMCMH
RNS Number : 0908G
Chamberlin PLC
23 November 2020
23 November 2020
Chamberlin plc
("Chamberlin" or the "Company")
Trading Update
Chamberlin plc (AIM: CMH.L), the specialist castings and engineering group, announced on 29 September 2020 that production levels at the Company's two foundries remained at or above pre-Covid-19 levels, and this continues to be the case. Trading at Petrel was below normal sales levels but is improving.
The Company's machine shop has been experiencing volatile demand due to Brexit, Covid-19 and customer safety stock building. The customer of the largest contract representing approximately 75% of the machine shop's output has informed Chamberlin of an earlier transition to the next product evolution which has been awarded to another supplier. Ongoing customer orders are likely to be a fraction of the original contract. The Company will be pursuing a claim relating to the earlier than planned transition and in the meantime all staff in the machine shop have been furloughed.
The Company is taking further mitigating actions to reduce costs during the machine shop temporary shut down, although the financial impact cannot yet be determined.
The Company continues to explore additional manufacturing opportunities for the machining facility with existing Tier 1 customers and prospective new customers.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
Enquiries
Chamberlin plc T: 01922 707100 Kevin Nolan, Chief Executive Neil Davies, Finance Director Cenkos Securities plc (Nominated Adviser T: 020 7397 8900 and Broker) Russell Cook Katy Birkin
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(END) Dow Jones Newswires
November 23, 2020 02:00 ET (07:00 GMT)
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