CASTLE Precision Engineering has returned to the black amid signs that challenging trading conditions were starting to ease.
The Glasgow-based firm, which supplies parts to sectors such as aerospace, defence and oil and gas, made a profit before tax of £77,628 in the year ended December 31, 2017, accounts newly filed at Companies House reveal. It made made a loss of £218,919 for the period between August 1 and December 31, 2016, with the firm stating that it switched to a calendar year-end to “simplify budgeting and enable forecasting in line with our customers’ schedules”.
Castle, led by managing director Marcus Tiefenbrun, said it continued to experience “challenging trading conditions but with signs of an improving outlook.”
Revenue for the year was booked at £15.4 million, compared with £5.6m for the previous six months.
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