- Castings said pre-tax profits grew by more than quarter amid increase in output and improved profitability at its foundry segment.

For the year ended 31 March 2019, profit before income tax and exceptional items increased 27.5% to £15.3m and turnover increased to £150m from £133m a year earlier.

The foundry businesses, which accounts for bulk of revenue, saw output rise 6.1% to 52,200 tonnes and an increase in external sales revenue of 12.7% to £143.1m.

The company recommend an increase in the final dividend to 11.40 pence per share, taking the total dividend for the year to 14.78 pence per share.

'It appears at the present time our order book is sound and schedules remain stable. In particular demand for commercial vehicles is currently strong and it is hoped this trend will continue,' the company said.

At 8:46am: [LON:CGS] Castings PLC share price was +25p at 452p

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