Carclo names new chairman and CEO

TECHNOLOGY led plastics group Carclo today confirmed its new chief executive as the company posted inproved annual results.

Chris Malley, who has worked for the Ossett-based business for 13 years, will succeed Ian Williamson who is set to retire next March.

Mr Malley has held several senior positions within the business, including most recently as chief executive of its Conductive Inkjet Technology business.

Chairman Christopher Ross is to stand down at the group’s annual general meeting in September and will be replaced by Mike Derbyshire

Annoucing its results for the year ended March 31, Carclo posted revenues up 5.2% to £93.3m. Underlying profit from operations increased by 12.3% to £6.6m.

The group has increased its total dividend by 9.1% to 2.4p per share.
 
Mr Ross said: “Carclo delivered sound financial results and excellent strategic progress for the year ended 31 March 2012. Following an extensive strategic review we are expanding Conductive Inkjet Technology and expect it to become the most profitable and fastest growing business within the group.”

“Our core manufacturing businesses continue to perform well. Recent contract awards and the expansion of the Indian operation will generate growth and support increased profitability in our Technical Plastics division.
 
“In Precision Products, our well-timed exit from the automotive antenna business enables us to deploy further resources to accelerate the expansion of our specialist LED Technologies division. We are working on a number of new contracts which will deliver further growth.
 
“These developments taken together give the board confidence that the new financial year will be transformational for Carclo.”