Dowlais Group plc (DWLAF), a specialist engineering group focused on the automotive sector, Wednesday said its adjusted revenue of 4.2 billion pounds for the ten-month period to October 31 declined 6.1 percent year-over-year. This was mainly attributed to the continued weakness in the company's ePowertrain product line.
For the full year, the company has confirmed its outlook.
"The strategic review of our Powder Metallurgy business is progressing well as we evaluate options for the business. In the medium term, our strategy to accelerate our transition to a powertrain agnostic portfolio, which is better positioned to navigate market volatility, will support sustainable, profitable growth and cash generation," said Liam Butterworth, CEO of Dowlais.
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