Carclo focused on touchscreen future
CARCLO said it was in a period of “strategic development and consolidation” today as it reported pre-tax profits down almost half for the first six months of the year.
The Osset-based firm generated pre-tax profits of £1.3m for the six months to the end of September compared to £2.5m in the same period last year.
The results included a £1.2m impairment charge after the firm stopped supplying Ford with antennas and cables.
The company is in the process of investing in its conductive inkjet technology (CIT) division which will produce touch screens.
Carclo chairman Christopher Ross said: “Our businesses are performing well. Whilst we are mindful of the uncertain world economic environment, we expect further progress in our second half and are on track to deliver good growth for the year as a whole, and recent contract awards will underpin further growth next year.
“Progress at CIT is exciting, with the touch screen application set to deliver a transformational contribution to the group. CIT also has many other opportunities for growth and the board is focussed on delivering the value of this growth to shareholders.
“The balance sheet is strong and our financing is secure. The group remains very well placed.”
The company’s interim dividend will be set at 0.75p, up from 0.7p last year.
