AGM Statement

7 Sep 2006 07:02

Carclo plc07 September 2006 For Immediate Release 7 September 2006 Carclo plc ("Carclo") AGM Statement At the annual general meeting to be held later today, Christopher Ross, chairmanof Carclo, will make the following statement. Trading continues in line with our expectations. Operating margins in TechnicalPlastics for the half year are expected to be double those of the priorcomparative period on similar sales revenues - benefiting from the improving mixof business as we focus on medical and specialist markets. Within CarcloPrecision Products, Automotive margins have reduced, as expected, reflectingweaker demand for specialist lighting - but we have initiated a cost reductionprogramme which should result in an improved second half. The PrecisionEngineering businesses have maintained their excellent performance. We now anticipate substantially higher proceeds than originally expected fromthe sale of the surplus properties in this financial year. This will furtherreduce group debt and release resources for increased investment in growthopportunities. We have made encouraging advances in the development of new technologies.Conductive Inkjet Technology ("CIT") has now, through its partner PrecoIndustries, issued the first firm quotation for MetalJet 6000 systems for RFIDapplications. CIT is also making excellent progress in broadening theapplication universe for the CIT process. Other developments are on track tosupport the future growth of the group. The most commercially advanced of theseapplications is our soluble capsule project with Stanelco. This has made goodprogress, with the new SmartCap concept being very well received. - Ends - Enquiries:Carclo plc 01924 268040Ian Williamson, Chief ExecutiveRobert Brooksbank, Finance Director Weber Shandwick Square Mile 020 7067 0700Richard HewsJames White 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. • 70% of sales are derived from the supply of fine tolerance, injection moulded plastic components, which are used in medical, automotive, telecom and electronics products. This business, Carclo Technical Plastics, operates internationally in a fast growing and dynamic market underpinned by rapid technological development. • 30% of sales are derived from the supply of manufactured systems to the automotive and aerospace industries. • Carclo's strategy is to grow rapidly in low cost manufacturing regions and to develop new technologies and products to underpin future growth. This information is provided by RNS The company news service from the London Stock Exchange