Castings, the West Midlands based cast maker, says despite economic uncertainty trading conditions have remained good through the last six months.
Sales for the six months to 30 September were £64.0m compared to £44.6m for the equivalent period of 2010, a rise of 43%.
The adjusted profit before tax figure came in at £10.13m, nearly double the £5.12m of the prior year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Castings remains cautious about future prospects however: "Certain customers have reported that commercial vehicle production is reducing by 10 to 15% and this has been reflected in some of our customer's schedules. It is still very early to forecast what effect these reductions, and potentially further reductions, will have on the full year results."
Neverthless, it will pay an interim dividend of 2.91p per share up from the 2.71p paid in the last year.
Castings was 9.27% up at 284.66p by 11:29.
BS
-
Ofgem proposes new energy tariffs with low or no standing changesStanding charges have invited public backlash as households battle high energy bills
-
Google shares bounce on Gemini 2.0 launchGoogle has launched the latest version of its Gemini AI platform, and markets have responded positively. Is it time to buy Google shares?
