Engineering group blames problems at machining division for profit hit
Profits at Walsall engineering group Castings have been hit by problems at its machining division which struggled to meet customer orders leading to a hefty transport bill on top of costs for exiting some projects.
CNC Machining reported a £3.95m loss for the year compared to a £1.52m profit in 2017.
Castings said: “One of the major issues for much of the year has been an inability to meet customer orders in a timely way, which has resulted in extra transport costs in excess of £1.2m. These costs have been necessary to prev... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...