Castings expects to meet expectations amid subdued commercial demand
Castings PLC on Thursday said it expects to meet market expectations for the twelve months to the end of March 2026, as it focuses on productivity and cost control.
The West Midlands-based iron casting and machining firm said demand from commercial vehicle customers, which make up 75% of group revenue, has remained at lower levels as expected.
In a trading update ahead of Thursday’s annual general meeting, Castings said original equipment manufacturers suggest that European heavy-truck demand is 10% to 15% below the normalised trend level.
It said the business remains well positioned for volume increases when they start to appear.
The Ductile Castings business in Scunthorpe is starting to benefit from consolidation in the UK larger casting market, the firm noted.
It has completed the installation of a new foundry production line at the Dronfield site, with commissioning set to start in September.
Shares in Castings were down 3.3% at 264.00 pence in London on Thursday morning.
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