Strong financial position at Carclo
TECHNICAL plastics group Carlco today said its financial position remains strong and it has traded in line with its expectations for the first half of the financial year.
The Ossett-based firm said, in a half year trading update to the markets, that its Conductive Inkjet Technology’s (CIT’s) new Cambridge facility has been commissioned on schedule and production on its high-speed coating line was validated on time.
CIT has continued to invest in further technology developments that will support future innovation in the touch screen sector and the board said it remains confident that this business is on track for significant growth this financial year and into the future. CIT revenue in the first half of the financial year was approximately £1.4m.
The company, which makes injection moulded plastic components, which are used in medical, optical and electronics products including the lights of supercars, also highlighted achievements in its other divisions.
It said in its Carclo Diagnostic Solutions arm, the first phase of its external review of market opportunities has indicated good suitability to a wide range of medical device sectors.
The group said its Technical Plastics profits will, as expected, be ahead of last year’s comparative period. It said its US business in particular has traded strongly and is set for further growth and its capacity expansion project is on track for completion early next year. Carclo also said its US and Czech businesses are both set to benefit in future years from multiple new business wins.
Reported profits in Carclo’s LED Technologies division are expected to be in line with the prior year first half helped by good growth in its LED Optics business. With design wins already awarded to Wipac, Carclo said the division is expected to have a much stronger second half and further project wins are anticipated for the second half.
The group said its Precision Engineering division has benefitted from a good first half in its aerospace business and reported profits are expected to be comparable to last year’s first half performance.
Carclo said: “As usual, due to working days and seasonality, the group will generate a larger proportion of its operating profits in the second half of the year and this will be magnified by the projected increase in CIT coated film sales. The commercialisation of CIT and the growth prospects in Technical Plastics and LED Technologies reflect a very positive outlook for the group and the group’s financial position remains strong.”
CIT, which offers touch sensor technology and ultraviolet inks writing onto products such as smart packaging, claimed breach of contract, breach of confidence, and patent entitlement.
Today, Carclo said the English High Court has determined that CIT may pursue claims against Uni-Pixel Displays in the English courts for breach of confidence and patent entitlement and as a result, Uni-Pixel will be obliged to pay the majority of CIT’s costs of this jurisdiction application.
The group will issue its interim results for the period to 30 September 2013 next month.
