Last checked at 16 Aug 2010 07:00
16 August 2010
Carclo plc
("Carclo" or "the Group")
Interim Management Statement
The board is pleased to announce that the new financial year has started well, particularly in the Technical Plastics division, and the group continues to trade in line with its expectations for the full year.
Technical Plastics has experienced good levels of demand compared to the same period last year. Volumes in our US medical business have recovered strongly and our other operations are all performing well.
In Precision Products, supercar lighting programmes at Wipac are progressively entering production and will contribute to much stronger trading in the second half. Our aerospace operations have not yet seen any significant increase in sales, although order intake is now rising and the businesses are performing satisfactorily.
Progress at Conductive Inkjet Technology ("CIT") has been good. In printed electronics, InkJetFlex sales are now growing and we have recently received production orders for specialised RFID tags developed by our customer in Asia on a MetalJet 600 facility. The Fine Line Technology touch sensor project with Atmel continues to build momentum. The complete production line will have been installed at CIT's facility in Cambridge by early autumn and validation of the manufacturing process and yield should follow soon after. Volume production is expected to commence in early 2011.
We expect the group's trading pattern in this financial year to be similar to the prior year with a greater proportion of operating profits generated in the second half of the year than in the first half.
The economic environment remains uncertain and yet our businesses are performing well and the group's financial position remains strong. The group is well placed to enjoy continued growth in its medical diagnostics, LED optics and lighting businesses as well as having exciting prospects at Conductive Inkjet Technology.
- ENDS -
| Enquiries: |
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| Carclo plc | 01924 268040 |
| Ian Williamson, Chief Executive |
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| Robert Brooksbank, Finance Director |
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| Weber Shandwick Financial | 020 7067 0700 |
| Nick Oborne / Stephanie Badjonat / Clare Thomas |
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Notes to editors
·; Carclo plc is a global supplier of technical plastic components. It is a public company whose shares are quoted on the London Stock Exchange.
·; Two thirds of sales are derived from the supply of fine tolerance, injection moulded plastic components, which are used in medical, optical and electronics products. This business, Carclo Technical Plastics, operates internationally in a fast growing and dynamic market underpinned by rapid technological development.
·; One third of sales are derived from the supply of specialised precision products to the premium automotive and aerospace industries.
·; Carclo's strategy is to develop new technologies and products to drive future growth.