By Michael Susin
Dowlais Group, a specialist engineering group with a focus on the automotive sector, has expressed confidence in meeting its full-year expectations, despite the impact of the United Auto Workers (UAW) strikes in North America.
The company continues to anticipate achieving adjusted operating profit in line with the consensus forecast of £352 million ($432.5 million) compiled by the company itself.
While the UAW strikes are expected to have an impact on adjusted revenue and operating profit for the year, with estimated figures ranging between £30 million and £45 million and between £10 million and £15 million, respectively, Dowlais has fully taken into account the consequences of the strikes. This decision is supported by its ongoing expansion of adjusted operating margin, which stood at 6.8% during the four-month period ending on October 31.
Dowlais has reported a growth of 4.7% in adjusted revenues (excluding exceptional and other one-off items) for the same period, amounting to £1.8 billion.
"The businesses within the group have continued to secure orders across their entire product portfolio. Notably, GKN Automotive has achieved record-breaking new business bookings of £5.4 billion in forecasted lifetime revenues, £2.4 billion of which was awarded in the four-month period," stated Dowlais.
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