RNS Number : 2553J
Castings PLC
15 August 2023
 

Castings plc

Interim Management Statement and AGM

 

Castings PLC announces a trading update ahead of the AGM being held today at 3.30pm at The Fairlawns Hotel and Spa, 178 Little Aston Road, Walsall, WS9 0NU.

 

We previously reported in June that demand from our commercial vehicle customers (75% of group revenue) was strong; it is pleasing to note that these higher levels have been maintained in the year to date. With such elevated demand and an element of order backlogs, the OEMs have been restricting the number of new orders being accepted.

 

The forward demand schedules are beginning to suggest that these order backlogs are reducing and therefore schedules are starting to reflect the underlying demand in the market.

 

Following a period of significant inflation during the previous financial year, input prices appear to have stabilised in the current year.

 

We continue to invest in automation technologies to improve our productivity and profitability as well as giving consideration to capacity investment.

 

 

A N Jones, Chairman

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

15 August 2023

 

 

 

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
AGMFZLFFXVLXBBV