UK's Castings falls after slashing annual profit expectations

Castings

26/10/2026 08:52

** Shares of iron casting and machining group Castings CGS.L down 6.5% at 259 pence - among top the top losers on the FTSE Small Cap index .FTSC
** Co cuts fiscal 2027 adjusted pretax profit expectations to a level broadly in line with the prior year, excluding historical R&D tax credits
** Co had previously expected to report annual profits in line with market estimates of £12.9 million ($17.23 million)
** Says a third-party power supply issue at its William Lee site and costs related to catching up production continued to weigh on first-half performance
** Stock down ~5% YTD

($1 = £0.7487)


($1 = 0.7487 pounds)

 (Reporting by Neeshita Beura in Bengaluru)
 ((Neeshita.Beura@thomsonreuters.com))