Last checked at 4 Feb 2016 07:00
4 February 2016
Carclo plc
("Carclo" or the "Group")
Interim Management Statement
The board is pleased to announce that trading in the second half of the financial year remains in line with its expectations.
As expected, our Technical Plastics division is set to report a stronger second half performance, driven mainly by our US business. The new facility in Taicang, China is now fully operational. In addition to our planned Indian expansion we have also commenced expansion of our Tucson, Arizona factory. Both expansions will use newly leased buildings to minimise capital expenditure and avoid any construction disruption.
Within LED Technologies, our Wipac business has continued to perform well. Design, development and tooling activity is strong and, as anticipated, we have secured a further programme with an existing supercar lighting customer. The LED Optics business has performed in line with our expectations.
The Precision Engineering businesses have traded well reflecting the better order intake seen in recent months.
Carclo Diagnostic Solutions has continued to make promising technical progress over the period. The healthcare practitioner market research work has advanced well and will be completed prior to our year end.
The Group's balance sheet is strong and its funding arrangements remain well within its banking covenants.
- ENDS -
Enquiries:
Carclo plc |
| 01924 268040 |
Chris Malley, Chief Executive |
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Robert Brooksbank, Finance Director |
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Peel Hunt LLP |
| 0207 418 8900 |
Justin Jones |
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Jock Maxwell Macdonald |
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Mike Bell
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Weber Shandwick Nick Oborne Tom Jenkins |
| 020 7067 0000 |
Note to Editors
Carclo plc is a public company whose shares are quoted on the London Stock Exchange.
Carclo's strategy is to develop and expand its key manufacturing assets where there remain significant further opportunities to drive value. To enhance profit margins the group has been investing in new technologies.
Approximately three fifths of revenues are currently derived from the supply of fine tolerance, injection moulded plastic components, mainly for medical products. The balance of revenue is derived mainly from the design and supply of specialised injection moulded LED based lighting systems to the low volume premium automotive industry.