Castings PLC AGM Statement (2553J)
15 Agosto 2023 - 8:00AM
UK Regulatory
TIDMCGS
RNS Number : 2553J
Castings PLC
15 August 2023
Castings plc
Interim Management Statement and AGM
Castings PLC announces a trading update ahead of the AGM being
held today at 3.30pm at The Fairlawns Hotel and Spa, 178 Little
Aston Road, Walsall, WS9 0NU.
We previously reported in June that demand from our commercial
vehicle customers (75% of group revenue) was strong; it is pleasing
to note that these higher levels have been maintained in the year
to date. With such elevated demand and an element of order
backlogs, the OEMs have been restricting the number of new orders
being accepted.
The forward demand schedules are beginning to suggest that these
order backlogs are reducing and therefore schedules are starting to
reflect the underlying demand in the market.
Following a period of significant inflation during the previous
financial year, input prices appear to have stabilised in the
current year.
We continue to invest in automation technologies to improve our
productivity and profitability as well as giving consideration to
capacity investment.
A N Jones, Chairman
Castings plc, Lichfield Road, Brownhills, West Midlands, WS8
6JZ
15 August 2023
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END
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