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You could well be right Beza, but i seem to recall that the Chairman pretty much ruled this out in a previous interview.
Is there fear of an equity raise which is holding the share price back? Would this explain the volume of selling which is being shown here? I can’t believe that we started the day up 15% and it finishes flat…
Great update…..This just needs some attention and volume
Have thought about this Chrisjse.
I wonder if they could incentivise members to move out of the scheme. Other than that I haven't a clue. If they can get the deficit down faster that would be great.
I thin the management are doing a fab job. Here we are Sept 2nd two days after their first half and we get a 4month trading update. That's investor friendly in my books not many companies this size would provide so much detail so quick.
Certainly not the previous board (s). We ought to change the company name "New Carclo" -;)
I've added the figures for 31st March in brackets: "net debt as at 31 July 2021 of £28.4m (£27.6m) and net debt excluding lease liabilities of £21.8m (£20.5m). A small but worthwhile reduction.
I'm intrigued by: "improve the pension scheme's funding level more quickly than would be the case by employer contributions alone" any ideas what that means?
Ahead of expectations, framework and new customer programmes on target for full year.
Alongside the positive trading performance, the division continues to make good commercial progress with order intake in the medical and diagnostic sector remaining strong and showing some good potential.
The Aerospace division showing early signs of market recovery with order intake exceeding sales for the first four months of FY22 following a FY21 where sales exceeded order intake. And winning business with new customers in line with its long-term strategy.
Cash generation ahead of expectations debt reduced further and pension initiatives being developed with trustees to reduce deficit faster than employer contributions alone.
Yes there are headwinds 're staffing in the US but looking to improve. Finally company increased inventories to stave off raw material supply issues.
A brilliant update. Jmo
Pure guesswork. Not advice to buy.
Revenue: £60.5m. Based on H2/FY20/21. (£57.6m plus continued recovery from Covid 19 and new clients)
UOP: £5.376m. Based on the average of 3 previous years 17-18/18-19/19-20. Plus 1.5% for improved efficiencies (no CEO etc.) Which is 8.8866% of revenue.
PBT: £4.172m. Based on finance costs as FY20/21. £2.659m minus say £750k arrangement fees, divided by 2, 6months. Low exceptionals £250k, as most problems now behind us as stated in annual report.
No account taken of possible raw material shortages.
No account taken of the framework agreement. Which could add up to £3-£4m to revenue this period based on the build up to £10m FY 21/22.
If we then simply take 12 months as double the above ignoring growth, framework etc. We have FY 21/22.
Revenue: £121m
UOP: £10.752m
PBT: £8.344m
£8.344 x 17.55 PE (Ave 250 Company. Micro cap higher) £146.437m.
£146.437m minus say £40m for pension and say £30million debt = £76.437m
73.29m shares that gives £1.04p per share.
Lots going on with new clients and continually recruiting. Hopefully we will get info on a AGM RNS.
Is anyone going by the way?
As I have said previously loads of holes. My opinion only.
Just seen this job advertised 1 week ago.
New production cell, 12 hr shifts ,they seem to be in a rush!!
That makes USA, India & UK divisions all expanding. China & Czech facilities no info.
Looking forward to the next update, should be a positive read.
GLA
”Manufacturing Quality Engineer
Carclo Technical Plastics
London, England, United KingdomPosted 7 days ago
Easy apply
Job description
The Quality Engineering team at Carclo Technical Plastics, based in South London (Mitcham), is quickly growing due to a new production cell that has been just validated according to ISO13485......."
I would be very surprised if they did not give a trading update on the day of the AGM.
There was an update last year on 17th though before the AGM on refinancing and performance.
I’d like to understand more about the boards objectives and timelines — so far they have given no forecast due to ‘COVID’……would like to see them make some commitments around their objectives for 2023 when the pension agreement ends
I am hoping for a sign of how things are going such as revenue.
Lots of companies take this opportunity (AGM) to give shareholders a brief update.
Has anybody given any thought as to what the revenue figures will look like?
I have and will post them nearer to the AGM date.
I should have mentioned last years AGM in September did not include a trading update.
I doubt it as Half Year Results will be for the six months ended 30 September 2021.
So probably November like last year (27.11.2020), Notice given 12.11.2020
I would think that we will get a trading update along with the AGM on 2nd Septmber.
No volume here since some large selling a few weeks ago — any idea when the next update is due? Will it be the half year results in November?
Summer lull with Covid largely out of the news...but still out there! Am expecting a huge surge in cases in the next few weeks with renewed govt panic & testing once again to the fore. Time to buy on dips with view to holding until this occurs late summer/early autumn...Covid like Arnie "WILL BE BACK!!"
There seems to be a continual stream of new jobs being offered at CTP USA production facilities (this week mainly Derry, NH).
First,second and 3rd shifts,productive positions.
Hopefully there will be a trading update in the next few weeks.
Could help to explain the recent share movements, and the reasons behind director purchases at 52p.
GLA.
This is up and down more than a *****s drawers.
Wish it was a virgin and stayed up!
I made a top up to my holding today. I recall a couple of folk saying that their recent buys had been marked as sells but my was done correctly. Pleased to see the strong price finish.
Well spotted Rivaldo.
Funny trading today. Nice bounce from the days lows.
A rare event - CAR have posted some news :o))
Https://www.carclo-ctp.co.uk/media-centre/press-releases/2021/27-07-2021
"Carclo Technical Plastics Announces Med-Tech Innovation Attendance
27 July 2021
London (UK), 27 July 2021: Following the global pandemic and the reduction in exhibition activity, Carclo Technical Plastics (Carclo) announces that it will be exhibiting on stand no E18 at the Med-Tech Innovation Expo at the National Exhibition Centre in Birmingham, UK, now scheduled to be held 28-29 September 2021. Carclo staff will be available to discuss the use of state-of-the-art Pressure Sensing technology for optimisation, monitoring and control of the Injection Moulding process, see attached photo.
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. Carclo 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™.
Commenting, Divisional Chief Executive Officer Robert Stutzman stated “Carclo Technical Plastics has ambitious plans to continue developing our medical business, supported by Carclo’s engineering skills, global footprint and financial stability. Carclo 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.�
Carclo Technical Plastics is a contract manufacturer which specialises in injection moulding and assembly of thermoplastic components and devices for the medical, diagnostics, electronics, optics and automotive safety markets. With ISO13485-accredited production facilities in Eastern and Western USA, UK, Czech Republic, China and India, Carclo offers its global footprint to customers in these dynamic markets. Carclo’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; and ophthalmic equipment, lenses and optical components."
Is looking dismal. Massive risk averaging down here...hindsight eh.....nevermind.
What next...30p, 20p, 10p, etc.
One question I would have liked to have asked at the "Investor meet the company" webchat.
"When would the company be introducing share options for those employees/directors running the company"
Needless to say I am pleased to see that some have now been awarded.
The shares are at the moment options, but the company will at some time in the future need to, 1. Issue new shares 2. use treasury shares (if they have some) 3, Purchase the shares in the market. I believe the shares are nil cost so the fact they were issued yesterday means nothing unless the company buy them today or take out options to buy them today.
The shares options will be awarded based on the performance :
50% on earnings per share over the coming 3 years. & 50% on total shareholder returns over the same period.
The share price is beaten up at the moment due to a seller in the market. This happens when you have a share that trades in low volumes . This won't be the case for ever ! JMO
Perfect timing for the bosses to award themselves share options, given that the sp is at a summer low point. At least it gives a bit of hope that the sp has hit a low point and is unlikely to fall much further. Am interested to know where these shares are coming from ie. from thin air or future dilution? I suppose the message must be, buy now and hold til 2022/23/24 to have a prosperous pension!
So it appears that 3 of the directors are being given 3/4 of a million shares between them… Is this subject to the share price achieving a certain price, or is it just a nice little tickler for the lucky three! I’ll have to have a scan through the AR which dropped into the post box the other week.