We have today been notified that Aberforth Partners LLP have an interest in the voting rights of 5,738,279 shares in the company.Their holding represents 13.15 per cent of the issued shares.
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RNS Number : 1612H
Castings PLC
16 February 2010
Castings plc
Interim Management Statement
Castings plc publishes its second interim management statement covering the period 1st October 2009 to 31st January 2010.
We have seen a small increase in demand since the November statement, but as previously stated we do not expect a return to full volumes for some time. This depends on new orders and economic improvements throughout Europe.
The new foundry at William Lee has been brought into use but only at the expense of capacity elsewhere on site.
There are no other material developments to report.
B.J.Cooke, Chairman
Castings plc, Lichfield Road, Brownhills, West Midlands WS8 6JZ
16th February 2010
This information is provided by RNS
The company news service from the London Stock Exchange
END
IMSTAMJTMBIBBLM
We have today been notified that Hunter Hall Investment Management Limited have decreased their holding in this company to 4,081,637 shares.Their holding now represents 9.35 per cent of the issued shares.
Have held Castings on and off for many years (currently in @ 131.5p). Good solid company run by no nonsense CEO with track record of paying good divy. Doubt we’ll see 250p any time soon though, although today’s high of 205 is encouraging (previous high 200).
I bought into this one in January for the quality of the products & the business model. Also I see them as a major beneficiary of the weak £ and strenghening European industrial markets. It's a long term (12-18 month) hold for me with a 250p target - a pretty solid looking 50% gain inc the divi.
It's been so infrequently traded for an FTSE Small Cap stock that I felt that I had made a mistake - even at a 174p average entry.
Today, however, we've got major movement (on a down day) & the bid sp is up over 7%. Volumes on the LSE & Plus are as low as usual, so the rise looks just to be MM mark-up activity. There could be some big buy orders in the background though.
Are we expecting an IMS in the near future? That might provide a bit of an explanation. I wasn't expecting any newsflow until a possible pre-close trading statement around the end of March.
Shares also tightly held - hence price movement on trade of only 400. Have personally held shares for 9 years - good, solid com. Pity some others are not run in same manner!
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