Engineering firm posts strong half year results

Engineering firm, Carclo has posted an increase in profit for the first half of the year to 31 March 2020.

EBITDA for continuing operations increased by 47.5% to £6.3m for the period, with aerospace and technical plastics sectors performing well for the Ossett based firm.

The business is expecting results for the financial year to 31 March 2020 to be comfortably ahead of those for FY2019

Following the period end the business also exited its Wipac UK and smaller Wipac Czech businesses which recorded a loss for the reporting period.

Despite the positive results uncertainty remains in Carclo with it yet to agree with pension trustee and lending bank on its long term financing position beyond the 31 January 2021

This announcement also follows the departure on 9 January of the Group CFO, Sarah Matthews-DeMers.