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Carclo (UK) reported a solid performance in its first half-year

October 12/2011

(PlastEurope) -- Technology-led plastics group Carclo (Ossett, West Yorkshire / UK) reported a solid performance in its first half-year despite the uncertain economic environment. Results were in line with expectations, although the group said it expects profits to rise even more in the second six months of its financial year, which runs to 31 March 2012. The financial position remains strong and a bank re-financing exercise is well under way, with terms agreed, and the group remains confident in its outlook for the full year.

The Technical Plastics precision injection moulding business, which accounts for two-thirds of group sales, benefited from further growth in its US medical activities and, what is termed, significant expansion of its Indian business. Profits for the division will be slightly behind last years first half, which was unusually strong, but a stronger second half-year is expected to provide continuing growth in profitability.

In the Precision Products division, growth in the Wipac specialist LED supercar lighting business has been positive. Profits are ahead of last year and new programmes continue to be won. Carclo will cease supplying antennas and cables to Ford Motor Company by the end of the financial year, allowing Wipac to focus its resources on growth in LED lighting. The aerospace activities have traded well and returned to profit growth.

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