24 May 2011 – final results
Engineering group Chamberlin has reported a return to profitability in the year to 31 March, with underlying profit before tax emerging at £0.8m (2010: loss of £1.0m). Revenue for the year increased by 40% to £39.8m (2010: £28.4m) driven by recovery across the core business and strong operating cash flow meant that net debt at the year end had reduced to £2.9m (2010: £3.5m), its lowest level for three years. Underlying earnings per share were 6.7p and the dividend was restored with a 1p final dividend being proposed. The group’s foundry activities saw continued recovery last year and further progress is expected in the current financial year. A confident statement by the chairman adds support to this view and profits and earnings per share could double in the year to next March. BUY.