Castings PLC – Old-school foundry…..think again, this is a high tech profit machine
The supplier of spheroidal graphite iron castings to a variety of manufacturing industries has seen earnings grow materially over the last three years and we felt encouraged to discover what they are (fore)casting for the future!
This business with its high tech plant (and superb results) certainly dispels the traditional view of foundries as messy, low tech, labour intensive operations
-Recent encouraging news The Group recently announced that they expect satisfactory trading results for the first three months of the year, with no indications of any reductions in their customer base. However, they do issue a statement of caution due to the larger macro economic situation, but remain confident of being able to react to changes as and when they occur. It is worth stressing that Chairman, Brian Cooke has always expressed caution in his year end statements (it’s called managing expectations!) and yet the Group always seem to succeed (we prefer this type of Chairman!!). The group achieved a…