Engineering group Chamberlin advances on positive trading update

Chamberlin, the AIM-listed specialist foundry and engineering group, expects to deliver pre-tax profits for the full year in line with current market expectations of approximately 1.3m pounds.

In an update on trading for the financial year to March 31st, ahead of its financial results which are due out in May, the group said that the results followed softer market conditions encountered in the second half of the year.

The group reported that it was continuing to generate positive cash flows and expected net debt at the year end to close materially lower than the same point last year, at below £1.0m.

Chamberlin's share price was up 4.84% to 97.50p at 12:53 on Friday.

MF