Chamberlin PLC AGM Statement (3404G)
23 Julio 2019 - 1:00AM
UK Regulatory
TIDMCMH
RNS Number : 3404G
Chamberlin PLC
23 July 2019
AIM: CMH
CHAMBERLIN plc
("Chamberlin", the "Company" or the "Group")
AGM Statement
Chamberlin, the specialist castings and engineering group, will
be holding its Annual General Meeting at 11.30am today, and Keith
Butler-Wheelhouse, Chairman, will provide the following update on
current trading:
"Trading conditions remain tough with reduced demand from the
European Auto Industry for Turbocharger components. As previously
indicated substantial cost savings are being implemented. The
savings will be fully effective in the second half, with overheads
right-sized for the expected level of business. The first half will
bear the costs of overhead reductions.
"Looking at prospects beyond the current year, although there
remains uncertainty regarding exchange rates and possible tariffs
post-Brexit, the Company is making good progress with potential new
business discussions.
"We look forward to updating shareholders on further
developments in due course."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014.
Enquiries
Chamberlin plc (www.chamberlin.co.uk) T: 01922 707100
Kevin Nolan, Chief Executive
Neil Davies, Finance Director
Cenkos Securities plc T: 020 7397 8900
(Nominated Adviser and Broker)
Russell Cook, Katy Birkin
KTZ Communications T: 020 3178 6378
(Financial PR)
Katie Tzouliadis, Dan Mahoney
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END
AGMZMGZNRZRGLZM
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July 23, 2019 02:00 ET (06:00 GMT)
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