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Iron castings maker Chamberlin said it was 'well placed' to deliver profitable growth in the second half of the year after reporting narrower first-half losses.
For the six months ended 30 November 2021, pre-tax losses narrowed to £86,000 from £558,000 year-on-year, while revenue fell to £8.0 million from £11.0 million.
The reduction in losses was driven by 'substantially improved operating profit from RDC and Petrel and the benefits from the rationalisation of the cost base at Chamberlin & Hill Castings and the group's head office undertaken at the end of the previous financial period,' the company said.
'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.'