Auto parts group Dowlais reports cash outflow in first half due to tariffs

Reuters
08/07
Auto parts group Dowlais reports cash outflow in first half due to tariffs

Aug 7 (Reuters) - British auto parts supplier Dowlais DWL.L reported a cash burn of 29 million pounds ($38.76 million) in the first half of the year, mainly due to the impact of U.S. tariffs.

The company, which is set to be acquired by U.S. rival American Axle & Manufacturing AXL.N, reported adjusted free cash outflow of 29 million pounds for the six months ended June 30, compared with a 10 million pounds inflow last year.

($1 = 0.7482 pounds)

(Reporting by Unnamalai L in Bengaluru)

((Unnamalai.L@thomsonreuters.com;))

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