Chamberlin returns to profit for first time in five years
Specialist castings and engineering group Chamberlin has returned its first profit in five years.
The Walsall business has reported profit after tax of £100,000 for the six months to November 30 2021, compared with a loss of £700,000 for the same period last year.
Revenue dropped from £11 million to £8 million, reflecting the loss of a contract with Borgwarner.
However, this has been offset by strong growth at Russell Ductile Castings and Petrel, alongside initial revenues from new business to consumer e-commerce brands – Emba cookware and Iron Foundry Weights.
Chairman Keith Butler-Wheelhouse said: "I am delighted to report that the difficulties of the past 18 months are now largely behind us.
"The actions taken by the company in the first half have stabilised the group and delivered a profit after tax for the first time in five years. Chamberlin is now well placed to deliver profitable growth in the second half, driven by a new strategic direction into expanding markets across all our businesses."
