10 November 2017
By Maynard Paton
Update on Castings (CGS).
Event: Interim results for the six months to 30 September 2017 published 10 November 2017
Summary: Last month’s statement concerning a review of CGS’s machining division had already braced me for worrying news. In the circumstances, this RNS was not too bad. Sure, the machining division has reported a loss and will cut back on certain projects. However, CGS’s main foundry operation appears to be performing very satisfactorily, with profit per tonne reaching a new high. I continue to hold.