Castings FY10 Pretax Profit Jumps To £9.8M, Maintains Dividend

23rd Jun 2010 09:16

LONDON (Dow Jones)--Castings PLC (CGS.LN), a supplier of spheroidal graphite iron castings, reported Wednesday a significant increase in pretax profit for fiscal 2010 and said it maintained dividend payment at 7.29 pence per share. MAIN FACTS: -Revenue for the year ended March 31 GBP60.6 million (2009: GBP84.8 million) -Pretax profit GBP9.8 million (2009: GBP3.6 million) -Underlying pretax profit GBP7.6 million. -Diluted EPS 17.51 pence (2009: 1.43 pence) -Cash and cash equivalents at end of period GBP14.7 million (2009: GBP15.8 million) -Sees a slow increase in demand from mid 2009 which hopefully will be sustained -Chris Roby to retire as financial director later in the year. -Steve Mant new financial director designate from company's auditors BDO; Mant to join the board on Roby's departure. -Well prepared for any further upturn in activity. -Shares at 0810 GMT down 5.75 pence or 3.18%, at 175.25 pence, valuing the company at GBP76.5 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, [email protected] (END) Dow Jones Newswires June 23, 2010 04:16 ET (08:16 GMT)