Carclo said it traded in line with company expectations during the first half of its financial year and expects to see this carried over into its second half performance.
Pre-tax profit for six the months to September were £1.9m, against £1.3m the year before. Revenue fell to £40m compared with £47m for the same period in 2011 while operating profit grew to £2.2m, up from £945,000.
"Our businesses continue to win new contracts despite the uncertain global economic environment,” said Chairman Michael Derbyshire. “Contract awards throughout our businesses, coupled with further capital investment in infrastructure and technology support our confidence in the future growth of the group."
The firm’s conductive inkjet technology (CIT) made its first production shipment – touch sensors for a volume smartphone – and it is in the final stages validation for a high volume tablet computer.
"We are now starting to see the first substantial rewards from the significant investment in CIT and anticipate a good maiden contribution from CIT's touchscreen business in the final quarter and rapid growth thereafter. Our CDS business has also made considerable progress and has attracted a high level of interest from a wide range of potential partners," a company statement explained.
Carclo’s technical plastics operation slipped slightly – down to £26.4m from £28.3m – due delays on tooling revenues but its LED technologies were lifted by growth in demand for automotive lighting and manufacturing efficiencies.