Castings (CGS) – positive results and the shortest narrative in history!
The iron castings and machining group delivered the usual set of positive results with a recovery in gross margins and improved profitability. The brevity of the accompanying narrative brought great joy – the Chairman is not one to waste his time on short term distractions! This remains a great little business and is surely worthy a closer look at current levels as the market improves.
Here is the results narrative in full:
“Sales for the six months ended 30 September 2015 were £65.0m (2014 - £63.6m) with profit before tax of £9.51m (2014 - £8.34m).
Sales revenue has been affected by the general reduction in raw material prices during the period making it difficult to directly compare to the previous year.
It was reported at the Annual General Meeting in August that sales volumes were maintaining at…
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