StockMarketWire.com - Specialist castings and engineering group Chamberlin said the majority of its employees were now working normally as lockdowns eased, though around 18% were still furloughed.

The company's Walsall foundry reopened for production on 4 May following a three-week closure.

Its machine shop had also reopened but output levels were running at around 30% of that achieved before lockdown.

The Petrel lighting business, while remaining open, was operating at around 60% of normal capacity, due to suspension of a number of government and defence contracts.

'Despite current levels of activity in the Walsall foundry being relatively high, the outlook for a number of the key markets, particularly across the automotive sector, remain uncertain,' Chamerblin said.

'As a result, Chamberlin has taken steps to reduce costs in line with the expected reduction in demand.'

'Recognising the ongoing uncertainty across global markets, the board continues to believe that it is too early to make any reasonable estimate of the financial impact on the group during the current year and beyond.'


At 2:32pm: [LON:CMH] Chamberlin PLC share price was -1p at 17.5p



Story provided by StockMarketWire.com