Positive outlook for confident Carclo
TECHNICAL plastics group Carclo today said its financial position remains “comfortable” and the trading outlook for this year and beyond is positive.
In an interim management statement this morning, the Ossett-based business said the new financial year has started strongly and said the group is trading in line with the board’s expectations.
In its technical plastics division, Carclo, which in June announced that pre-tax profits had risen 48% to £4.77m in the year to March 31 on revenue that was up 12.4% to £97.3m from £86.5m last time, said its businesses are performing well.
“The pace of new business development has exceeded our original expectations for the first part of the financial year which will support growth in future years,” Carclo said.
In LED technologies, Carclo’s Wipac supercar lighting business has had a positive start to the financial year with three new design wins already placed. In precision engineering, the aerospace business has had a slightly better than expected start to the year and the business continues to be profitable and cash generative. Conductive Inkjet Technology (CIT) coated film sales have tracked expectation, and progress at carclo diagnostic solutions has continued well and is in line with the development plan.
