StockMarketWire.com - Castings swung to a first-half profit but flagged the impact from supply chain bottlenecks.

For the six months ended 30 September 2021, pre-tax profit was £5.41 million, compared with a loss £0.63 million year-on-year as sales increased to £69.7 million from £41.7 million.

'In the prior period, demand was significantly reduced as a result of the COVID-19 pandemic,' the company said.

An interim dividend of 3.66 pence per share was declared.

After a strong start, the current period had been impacted by 'supply chain disruption affecting our commercial vehicle customers, which represent 70% of group revenue,' the company said.

'As a result of these issues (particularly in respect of semiconductors), the OEMs have been unable to build sufficient heavy trucks to satisfy the high demand in the market,' it added.





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