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Really fantastic transformation of the company. Most impressive is the reduction in pension liability- certainly no longer a noose around the company’s neck.
Very impressed gla
Excellent. Very happy with this…aerospace still to rebound as well
This is a big week for Nick and Phil, as it will give the real indication if the ship is turning in the right way.
I am positive.
As I type it is reported as: Share Price: 42.10 Bid: 42.70 Ask: 45.40
How can you have Share Price that is less than the Bid?
I also note that the spread is currently 6% it does seem to yo-yo from about 5% to 15+%
Another oddity someone seems this morning to have bought 13,077 @ 45.25 then sold them all 17 minutes later @ 42.55
Any explanation?
They seem like a good crew Steelwatch. Carclo has a lot on long term employees for sure.
Good to see a big "WE'RE GROWING" sign at the front of Carclo's factory in Latrobe PA.
They are after additional staff - production possitions.
Ref Carclo Technical Plastics PA facebook page.
Is it just me being superstitious or is any else worried about the results being announced on a Friday?
Good to see this breaking out again
Looks like Carclo produce the Zedscan device & consumables, for cervical cancer screening. It's getting some good press coverage and traction in the market, as can been seen below.
Good that they are involved in such an important healthcare issue and growth diagnostic area.
GLA
"Colposcopy Market worth over $250mn by 2027
Published Date: August 31, 2021 Authors: Sumant Ugalmugle, Rupali Swain
Colposcopy Market size is set to surpass USD 250 million by 2027, according to a new research report by Global Market Insights Inc.
Market growth is attributed to the advancement in treatment and procedures, novel product launches as well as growing demand for disease diagnosis. For instance, Zedscan, a diagnostic system that is used alongside colposcopy to provide an objective assessment of the cervical epithelial tissue in real time. Also, it is a new adjunct which uses electrical impedance to help the colposcopist. The possible benefits include reduced need for biopsy as well as more efficient management of women with high grade disease."
Hi Franksel,
Thanks for your assesment, its good to have multiple view points.
In addition with the main directors buying more shares at the end of june (@52p), 3 months into this period, when they would have good visability as to orders world-wide & potential margins for 2021/2, all adds to the upside strength.
As to the day to day share movements - no idea!!!
GLA
Hi Steelwatch,
In my post of the 1st September 21 I projected (guess) t/o of £60.5 with an UOP (underlying operating profit) of £5.376m and a PBT (profit before tax) of £4.172m.
Reading the AGM update one can imagine that these figures will be improved upon “The group has made an encouraging start to FY22 in spite of challenging…..as a result trading was ahead of management's expectations for the first four months of FY22”.
Having said that the company stated “some of the resultant input cost inflation has been offset by sales price increases” the word SOME is a something to bare in mind.
I do though think (and hope) there is a good possibility of a “surprise to the upside” despite the headwinds the company mention. Your £130m fy22 t/o is achievable and our calculations regarding the share price along with others, are very similar. Hopefully, the worth of the company will be reflected in the share price sometime soon, though the trades seem odd. It’s as if someone is determined to keep a lid on the price. JMO
Excellent digging Steel
It will be interesting to see the outputs from various locations in the interims.
India with their new covid diagnoistic clean rooms coming on line in the spring and with the closures at the plant last year due to goverment Covid policy, now working flat out, we should see a big swing there in turnover.
They had been commited to one client but looked to diversify last year. Plenty of major global players expanding in india in the last 12 months.
From the business development managers linkedin.
Thangadurai Arunachalam
Business Development Manager at Carclo Technical Plastics Ltd
5mo
Carclo Technical Plastics added additional cleanroom capabilities at Bangalore facility, to support our Medical and Diagnostic customers in this Covid pandemic scale up requirements.
For more details contact us at a.thangadurai@carclo-plc.com
#medicaldevices #covid19pandemic #diagnostics #antigentesting #contractmanufacturing #iso13485 #cleanroom #testkits #plasticinjectionmolding #medicaldevicemanufacturing #covid19india #carclo #diagnostictesting #oemsupplier
Just finished New York oct 27/29 / Next one up MD &M. Minneapolis Nov 3/4 .Then MD&M east . New York City, New York Dec 7/9th . Then MD&M April 12/14 th 2022 Anaheim , California ! So loads of chances to get a wider audience and as I said be nice to pick up two large contracts USA and uk . Good luck all
Imo feel we have two very contacts coming soon . We had a nice one a multi year one for a few million a year ! Certainly undervalued here will top sliced at 90 p which I feel it will get there soon and let the freebies run
Scoredagainsteps, the bidder was Consort Medical , in June 2018, and then two years later they themselves were taken over.
To be frank i am rather hoping that nobody bids for Carclo right now, as the best we could hope for would be perhaps 70p, and i am confident that in two years time that price would look very cheap indeed.
If somebody wants to bid at say a 50% premium once our stock has been re-rated to reflect the immense potential that exists in our medical plastics business then that is fine by me, but not just now when the stock is probably only half the value that it should be.
NICE last few days here. Nice new uk and usa contracts and we will be away should they come in Soon . Not many companyslike this around for mkt capt . Think in 2019 they turn down a offer of 1pounds 16 p a share .THE BUYER walked away will he return ?
Thanks for sharing your calculations.
I approached it a slightly different way, but still came up with a figure that is within 10% of your number.
Starting with the £10.4m pretax profit , i deducted £1.5m for interest paid, and £2.5m for pension contributions ( i believe that they gave this figure in a recent statement ). Multiplying the net figure of £6.4m by 15 ( as per you suggestion ) implies a valuation of £96m, which is not very different to your own figure of £89m.
On reflection perhaps a PER of 15 is a bit rich for an indebted company with a pension problem, albeit a company with outstanding growth prospects in an area that is very much in vogue , but even on a more modest multiple of 12 the equity valuation still comes out at £77m , which is equivalent to a little more than £1 as a target share price.
I have not allowed anything for tax, but i believe that they have carry forward losses.
Hi Steelwatch,
Like your figures.
I'm away at the present but will post my reply when I return Wednesday next week.
Franksel..using the template from your comprehensive 1/9/21 post for ease ..here is my take on where things may end up..- have you (or anyone) any revised thoughts / projections?
Not advice to buy.
FY 21/22.
Revenue: £130m (flat out 24/7production at all sites, limited covid disruption, new contracts incl.. framework agreement progressing into production from tooling, positive trading updates, selling price rises, aerospace division improving)
PBT: £10.4 (8%)
£10.4 x 15 PE (slightly cautious) £156m
£156m minus say £37m for pension and say £30million debt = £89m
73.3m shares that gives a target of £1.21p per share.
Lots of guess work - just a crude stab.
GLA
Glad I did and maybe it is behind us.
Sp rising to 40p today is giving encouragement...also expectations of solid manufacturing progress and good results in November...and news about covid contracts made earlier in the year would be icing on the cake.
Western Pennsylvania's
CORONAVIRUS
Westmoreland County company turns out vital parts for coronavirus test kits
Rich Cholodofsky
RICH CHOLODOFSKY | Sunday, April 5, 2020 12:01 a.m.Support Local Journalism
The frontline fighters against the coronavirus in Westmoreland County most certainly include medical professionals, first responders and other health care workers treating patients.
But workers at Latrobe-based Carclo Technical Plastics are quietly supporting their efforts through the manufacturing of tiny plastic collection tubes used around the globe in coronavirus testing kits.
Carclo operates two plants in the county, one in Latrobe and a small factory in Export. About 250 employees work 12-hour daily shifts to churn out the vital parts needed for the coronavirus testing kits, as well as other needed medical supplies.
“For the run-of-the-mill customer, nine out of 10 people don’t see our product in the real world, so this has definitely given us an increased awareness and exposure to what we do,” said Rob Stutzman, the company’s divisional chief operating officer.
Carclo also makes automotive parts and electronic components at the local plants as well as in factories in New Hampshire, Arizona, Great Britain, China and the Czech Republic. The company last year made upwards of 1.5 billion parts for some of its products. Sales of parts for the company’s coronavirus test kits are up 40% so far this year, Stutzman said.
The company also manufactures plastic parts for respirators and other breathing treatment devices, he said.
Stutzman said the demand led him to put out a help wanted sign for his local plants in Latrobe and Export, which are seeking about 20 additional workers to operate machines and to package and inspect the products.
Despite ongoing fear over the pandemic, work continues at the local plants.
“I can tell people are anxious and there’s fear there, but people are still coming to work to do their job,” Stutzman said.
Westmoreland County Commissioner Doug Chew praised Carclo’s staff and the company’s efforts to continue making the parts needed to ensure the frontline fighters have the tools needed to help counter the ongoing pandemic.
“I could not be more proud to say I’m from Westmoreland County, where my neighbors are making test kit components in the USA that will help us end this pandemic,” Chew said. “We have a long legacy of stepping up to the plate, and Carclo workers continue that proud tradition in 2020. These folks will be the heroes and patriots we remember for years to come.”
Rich Cholodofsky is a Tribune-Review staff writer. You can contact Rich at 724-830-6293, rcholodofsky@triblive.com or via Twitter .
Su
https://med-techexpo.com/event/en/node/carclo-technical-plastics-carclo-technical-plastics-press-release-january-28-2020
Carclo Technical Plastics Press Release, January 28 2020
Press release London (UK), 28 January 2020: Carclo Technical Plastics (CTP) announces that it will be exhibiting at the Med-Tech Innovation Expo in Birmingham, UK, 1-2 April 2020, on stand no F17. CTP will also be presenting the use of state-of-the-art Pressure Sensing technology for optimisation, monitoring and control of the Injection Moulding process, see attached photo. As part of a major project to develop and scale up manufacture of a drug delivery device in partnership with Becton Dickinson (BD), Carclo has invested significantly in advanced process monitoring equipment and personnel training/development, aimed at improving injection moulding process control and reducing costs of Quality Assurance and waste. CTP has installed RJG’s in-mould Pressure transducers and e-Dart™ process monitoring software on its Fanuc range of all-electric injection moulding machines. Widespread use of these technologies has been made through the Process Development and Validation phases of the project, supported by existing metrology and statistical analysis using commonly available tools such as Minitab™. BD has, in parallel, assessed several of CTP’s global manufacturing facilities as part of its “Fewer, Better” vendor management program in conjunction with CTP’s own Continuous Improvement activities. Commenting, Divisional Chief Executive Officer Robert Stutzman stated “Carclo Technical Plastics has aggressive plans to continue developing our medical business, supported by Carclo’s engineering skills, global footprint and financial stability. CTP considers the Med-Tech Innovation Expo as a key part of our annual marketing activities and we invite all customers and prospective customers to meet with us during this show.” CTP is a contract manufacturer which specialises in injection moulding and assembly of thermoplastic components and devices for the medical and optics markets. With ISO13485-accredited production facilities in Eastern and Western USA, UK, Czech Republic, China and India, CTP offers its global footprint to customers in these dynamic markets. CTP’s clients range from globally-located divisions of major healthcare corporations to start-up companies who are developing products for the innovative yet highly-regulated medical industry. Typical products include medical and surgical disposables, drug delivery devices, diagnostic reagent packs, diagnostic components and devices, ophthalmic equipment, lenses and optical components. Name: Emmanuel Achinivu – Business Development Manager Email: emmanuel.achinivu@carclo-plc.com Mobile: +44 (0) 7740 205346 Website: www.carclo-ctp.co.uk
I stand corrected!
Not sure how I missed that.