Carclo has a solid first half with better to come
By PRW Staff
Posted 9 October 2012
Carclo has traded in line with expectations for the first half of the year and there are indications that the next six months will see a strong upturn in operating profit.
According to the company, in September its conductive inkjet technology was shipped for touch sensors for smart phones. Further orders are expect soon, Carclo added. Tablet PC sales should follow.
The company’s technical plastics division will see profits behind last year's comparative period. This is mainly a “timing issue caused by profit recognition on new tooling projects where work-in-progress is high”, explained the company. However, this is expected to “normalise” in the second half.
The first half of the year has seen a number of significant new business awards, both from existing and new customers, which will drive good growth in technical plastics. Planning is underway for a significant capacity increase at our main US medical facility in order to support this new business.
The group's financial position has been substantially improved by the July equity placing, which raised £13.3m. This reduced group indebtedness to a more suitable level for an expanding technology company.
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