Manufacturer more than doubles pre-tax profits to £10m

Ossett manufacturer Carclo has more than doubled pre-tax profits in its fourth consecutive year of double-digit growth.

For the year to March 31, revenues increased by 16.2% to £138.3m. Pre-tax profits grew to £10.5m during the year from £3.9m.

Carclo said this was partly driven by the growth of its LED technologies division, driven by Wipac luxury and supercar lighting.

It also acquired two businesses during the year including Precision Tool and Die in October 2016 and FLTC Europe in March 2017 to bolster the LED technologies business.

Carclo also expanded its facilities in Mitcham near London and Tucson, US, as well as its CTP facilities in Bangalore, India and its Wipac facility in Buckingham.

It said its aims support long term objectives to grow revenue, increase underlying operating profit margins and generate an improved return on investment.

Michael Derbyshire, chairman said: “The Group has yet again delivered a strong trading performance during the year, and made excellent progress in implementing its stated strategic objectives.

“The two acquisitions made during the year are well aligned to our strategy and we have been successful in rapidly integrating both companies into the Group.

“Having exited the year with record order intake and pipeline within CTP and with the early delivery of our objective for Wipac of securing a second mid-volume lighting programme, we remain on course to deliver strong improvements in returns over the coming years to our shareholders.”

Close