Chamberlin seeks acquisition targets after profit rise
Engineering company Chamberlin said it is considering acquisition options after posting a 489 per cent rise in pre-tax profits this morning.
Underlying profit before tax for the six months to 30 September increased to £797,000, up from £163,000 in 2010.
The Walsall-based company said it was now "considering acquisitions which will expand our activities".
Revenue was also up 25 per cent to £23m over the half-year period. Chamberlin attributed the growth to continued improvement in its foundry activities and new business initiatives.
Chairman Tom Brown said: "Having returned to profitability in the first half of the last financial year, I am pleased to report that Chamberlin has continued to make good progress in the first six months of the current financial year."
"While uncertainties have inevitably increased due to the wider European and global economic picture, at this point in the financial year we believe that Chamberlin remains well positioned to meet current market expectations."
