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Chamberlin Plc Sees H1 2014 Guidance Below Management Forecasts; FY 2014 Pre-Tax Profits Materially Below Current Market Forecasts

Thursday, 18 Jul 2013 02:00am EDT 

Chamberlin Plc announced that the Board has seen a slowdown in certain areas of the business, especially since the fourth quarter of 2013, and the first half of 2014 to date has been tough. This is especially true of the foundries at Leicester and Scunthorpe, where it had expected some recovery in their markets after a particularly low period of demand around the year end. However, demand in these sectors has not yet recovered and this, combined with delays on the launch of new products by some customers, has reduced the sales expectations for the year. As a result the Board expects the first half of 2014, to be below management forecasts, and that it is unlikely to be recovered in the second half of 2014. On this basis the group will deliver pre-tax profits materially below current market forecasts for fiscal 2014. According to I/B/E/S Estimates, analysts were expecting the Company to report pre-tax profit of GBP1.10 million for fiscal 2014. 

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12 Dec 2014