Last checked at 15 Dec 2022 07:00
15 December 2022
Carclo plc
("Carclo" or the "Group")
Trading Update
On the 7 December 2022 the Group announced that a new customer supply contract had been cancelled and the likely financial impact on the results for the year ending 31 March 2022 was being quantified.
Constructive discussions are ongoing with the customer regarding an appropriate commercial settlement. Nevertheless, the Board now anticipates that profit for the second half of this financial year will be materially lower than previous expectations.
The Group's lending bank remains supportive and is actively engaged with the Group to discuss what amendments may be required to address the impact on its banking covenants.
About Carclo plc
Carclo plc is a public company whose shares are quoted on the Main Market of the London Stock Exchange. The Group is a global provider of value-adding engineered solutions for the medical, optical and aerospace industries.
LEI: 21380078MEM399JPI956
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
Enquiries:
Carclo plc
01924 268040
Frank Doorenbosch - Chief Executive Officer
David Bedford - Chief Financial Officer
FTI Consulting
020 3727 1340
Nick Hasell / Susanne Yule