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.
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
-
Millions at risk of 'unnecessary' tax bill – how to shield your savingsMillions of Brits could be taxed on their savings interest this year as their savings interest exceeds the personal savings allowance. Are you at risk?
-
Savers will have to wait as long as 48 years to build a £1m cash ISA pot if allowance is cutChancellor Rachel Reeves is rumoured to be planning a cut to the cash ISA allowance in the Autumn Budget, making it harder for savers to build wealth. Will you still be able to build a £1 million cash ISA pot?
