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Castings ( (GB:CGS) ) has shared an announcement.
Castings PLC has announced a trading update for the year ending March 31, 2025, indicating a drop in demand for heavy trucks, which make up 75% of its revenue, leading to lower than expected profitability. The company also faced increased power costs due to unused electricity volumes and incurred start-up costs from a new business in Scunthorpe. However, improvements are anticipated with the Scunthorpe business expected to turn profitable and increased sales orders from major customers likely to boost sales volumes in the next financial year. The company’s balance sheet remains strong despite significant investments and dividends.
More about Castings
Castings PLC is a leading iron casting and machining group based in the UK, primarily serving the European heavy truck market. The company is known for its advanced automation technologies and has a gross foundry capacity of 70,000 tonnes annually. Castings PLC also supplies parts to the wind power, agriculture, rail, and material handling sectors.
YTD Price Performance: 12.06%
Average Trading Volume: 60,751
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £125.2M
See more data about CGS stock on TipRanks’ Stock Analysis page.
