Chamberlin warns on full year profit

Shares of engineering firm Chamberlin sank after it warned pre-tax profits are expected to come in below current market forecasts for the full year as market conditions in several of is sectors softened materially.

Shares of engineering firm Chamberlin sank after it warned pre-tax profits are expected to come in below current market forecasts for the full year as market conditions in several of is sectors softened materially.

"At half year results, we reported that there were uncertainties to the general economic outlook in 2013. Since then, market conditions for our foundry operations have materially softened and activity in several of our sectors has reduced, which has resulted in customers reducing orders or deferring them to a later date," it explained in a company statement.

It added that notwithstanding the difficult conditions, the group remains cash generative and well placed operationally.

Chamberlin said its focus on developing customer relationships in both new and existing sectors remains and is progressing well and it continues to view medium term prospects positively.

Shares of the group fell 14.97% to 125.00p at 09:30 in London.

CJ

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