Profits leap for Carclo

PLASTICS technology firm Carclo has seen pre-tax profits rise by more than half in the last year, the company said today.

Carclo’s revenues grew to £88.6m helping take pre-tax profits to £6.8m for the year to the end of March, up from £4.6m last year.

The company also revealed it is in discussions with Ford over plans to stop supplying the car giant with antennas and cables over the next year.

This would mark the end of the company’s last major involvement in automotive supplies, once one of its major activities.

Instead, the company wants to focus its resources on its specialist LED lighting business. Carclo is also investing in its Conductive Inkjet Technology (CIT) division, which specialises in the printing of metallic circuits on plastic film, and Carclo Diagnostic Solutions (CDS) which develops medical diagnostic technology.

Chairman Christopher Ross said: “Carclo has made good progress in the year with encouraging financial results and excellent strategic progress.

“Opportunities for further growth in our medical, LED optics and supercar lighting businesses and current developments at both CIT and CDS give the board confidence in delivering another year of progress for shareholders.”

The board is recommending a dividend of 2.2p per share.