Carclo Share News (CAR)

LONDON (Alliance News) - Technical plastics products company Carclo PLC on Thursday said its full-year trading was in line with its expectations, with an improved end to the year in its Technical Plastics and LED Technologies divisions.

The Technical Plastics arm was boosted by a strong fourth quarter in the year to the end of March, Carclo said, and it expects further improvements in its 2016 financial year on the back of capacity expansions in the US and Czech Republic and a planned expansion in China. It is also started to increase capacity at its India and Tucson, Arizona sites.

LED Technologies also improved its performance in the second half in both the Wipac and LED Optics divisions, Carclo said. The Wipac arm has continued to win supercar lighting contracts and is expected to post further growth following a capacity upgrade, it said.

Precision Engineering trading was good in the year, with further moderate growth expected in 2016, while the company said progress in its Diagnostic Solutions arm has been encouraging.

Carclo also said it has hired advisers to work on the potential sale of its CIT Technology business and has so far seen some interest and held come early discussion with potential suitors.

The company will publish its final results on June 9.

Shares in Carclo were up 5.0% to 136.29 pence on Thursday morning, one of the best performers in the FTSE All-Share.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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