Specialist castings and engineering group Chamberlin said half yearly revenue rose by a quarter and it expects full year results to be in line with current market forecasts.
Revenues rose to £23m for six months ended 30 September 2011 from £18.3m a year earlier. The maker of safety and security products reported pre-tax profit of £797,000, up fivefold from £163,000 a year before.
Statutory pre-tax profit soared to £710,000 from £91,000 in 2010.
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
The strong performance was driven by improved demand from established customers, new business initiatives and operational improvements, Chamerlin said.
The group has returned to dividend payments at the full year, and have declared an interim dividend of 1p per share.
"Chamberlin's existing operations continue to make good progress and with our sound financial base we are well placed to exploit the organic growth opportunities that we continue to identify. At the same time, we are also considering acquisitions which will expand our activities," the group said in a statement.
Looking ahead it added, "While uncertainties have inevitably increased due to the wider European and global economic picture, at this point in the financial year we believe that Chamberlin remains well positioned to meet current market expectations."
--
cj
-
Zoopla: UK property supply hits eight-year high ahead of general electionNews More homeowners are putting their properties up for sale but many are relisting after failing to find a buyer last year - is now a good time to buy?
-
What’s happening to the NatWest share sell-off? Impact of general election 2024 explainedThe UK government has held shares in NatWest Group since the 2008 Financial Crisis. But a plan to sell off a large chunk of them appears to have been delayed.
