Castings signals 'slight softening' in demand from vehicle customers

Castings told shareholders that, following a strong first quarter, it had experienced a “slight softening” in demand from the majority of its main commercial vehicle customers on Thursday.

The London-listed firm, which was holding its annual general meeting later in the day, said that with engineering and productivity improvements in its machining business starting to be realised, it continued to expect the result of CNC Speedwell to improve in the current financial year.

“Against a backdrop of continued uncertainty surrounding Brexit, our investment remains focussed on production techniques and technologies to improve our productivity and profitability,” said chairman Brian Cooke in his short statement.