Carclo profits up

TECHNICAL plastics business Carclo has increased profits by more than a third as it saw improvements across all its divisions.

The Ossett-based group saw pre-tax profits up 37% at £2.3m in the six months to September 30 on flat turnover of £38m. It increased the interim dividend by 50% to 0.6p.

Its injection-moulded products are used in medical, automotive, telecoms and electronics and range from LED lighting, components for the diagnostic testing of blood to printing copper onto plastic to improve the quality of mobile phone screens and LCD televisions.

Chairman Christopher Ross, said: “Profit progression for the group overall is in line with our expectations. The mix of our business continues to swing in our favour with strong growth in the specialist medical diagnostics and LED optics and lighting businesses underpinning further profit progression. In the second half we expect margin improvement in Technical Plastics and another good performance from Precision Products.

“The group strategy continues to deliver and the board's confidence is demonstrated by the resumption of acquisitions, increased capital investment and

the increase in the interim dividend.”