Last checked at 4 Oct 2010 07:00
4 October 2010
Carclo plc
("Carclo" or "the Group")
Half Year Trading Update
The Group continues to trade in line with the Board's expectations for the full year and the results for the period to 30 September 2010 will reflect an encouraging start to the year.
The benefit of higher sales across all our Technical Plastics businesses will more than offset the effect of some delays in supercar lighting programmes entering production at Wipac. This will accentuate the Group's trading pattern with a greater proportion of operating profits to be generated in the second half of the year.
Progress at Conductive Inkjet Technology ("CIT") continues to be positive. The production line for the Fine Line Technology touch sensor project with Atmel has been installed in Cambridge and this triggers the second staged payment from Atmel for preferential access to CIT's production facility.
Our businesses are performing well, the Group's financial position is strong and the Board remains confident in the outlook for the full year. The Group will announce its interim results for the period to 30 September 2010 on 23 November 2010.
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| 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.