Strong progress helps profits rise at Carclo

PROFITS have climbed at Carclo as it announces strong progress across the whole group.

The Ossett-based technical plastics business today said it has continued to trade in line with the board’s expectations in the first half of the current financial year. The group said it expects to generate a “much stronger” second half result, due to the impact of new business wins and the usual seasonality.

Pre-tax profit in the six months to 30 September 2013 came in at £1.8m, an increase from £1.1m in the same period last year. Revenue shot up by 13% to £45m at the company, which makes injection moulded plastic components used in medical, optical and electronics products including the lights of supercars,

Carclo said underlying group operating profits of £2.8m were “well ahead” of the prior year (2012 £2m) with a particularly strong performance by Technical Plastics and with LED Technologies and Precision Engineering in line with their prior year numbers.

Carclo operates Technical Plastics, LED Technologies, Precision Engineering and Conductive Inkjet Technology divisions.

Chairman, Michael Derbyshire, said: “The group’s traditional businesses have produced solid results in the first half of the year and both Technical Plastics and LED Technologies are expected to enjoy a stronger second half with encouraging future growth prospects. 

“CIT is now generating growing revenues from the supply of coated film to Atmel and its turnover and profitability are set to expand rapidly as the XSense programme ramps up in the next calendar year and beyond. CDS’s Micropoc platforms are well positioned to disrupt the Point-of-Care diagnostics market and resources will be increased in 2014 to support this significant long-term opportunity.
 
“The group’s balance sheet remains strong and its financing is secure.”