Chamberlin PLC (AIM:CMH) shot up 17% on Friday morning as investors responded positively to the engineering company’s latest corporate update.
The AIM-quoted group’s Scunthorpe-based foundry Russell Ductile Castings (RDC) received its highest level of monthly order intake on record, exceeding £1.85 million for the first time - primarily due to new order awards in the renewables sector.
This included significant contract wins from Tekmar and First Subsea.
RDC’s order intake is included in management's expectations and supported the anticipated increase in revenue growth and profit after tax in the 2024 financial year.
Shares were changing hands for 2.92p with a market capitalisation of £4 million as of 9.30am.