Carclo plc
06 February 2008
Immediate Release 6.2.08
Carclo plc
('the Group')
Interim Management Statement
The board is pleased to confirm that Group profitability continues to run in
line with its expectations for the year.
Margins in Technical Plastics are improving following the reorganisation of the
Slough facility in the first half of the year. Development of our medical
diagnostics and LED optics businesses remains our primary focus in Technical
Plastics. As this sector continues to see good growth, we will re-balance
capacity by reducing our involvement in lower margin automotive moulding.
The Precision Products division delivered an excellent performance in the first
half year and has continued to perform well into the second half of the year
benefitting from new LED lighting contracts for supercars. In December we
completed the acquisition of Ultra, the specialist distributor of LED based
automotive lighting, for an initial cash consideration of £1.1 million. This
business compliments perfectly our existing specialist lighting business and
integration is proceeding well.
Investment in the new technologies has continued into the second half of the
financial year. On 30 September 2007 we acquired 100% control of Conductive
Inkjet Technology ('CIT').We have taken the opportunity presented by full
control to consolidate the development operations of CIT in Cambridge. The
MetalJet 5000 facility (previously installed at Carclo's Slough facility) is
being relocated to Cambridge and the MetalJet 6000 high speed line (originally
planned for our US partner's facility in Kansas) will also now be commissioned
in Cambridge. These moves will concentrate all CIT's technical resources and
enhance its revenue potential. We hope to commence production of an RFID enabled
sensor on the MetalJet 6000 early in the new financial year.
Progress on the CIT applications in Photovoltaics has been very encouraging. The
new 'etch' ink has produced excellent results and we are engaged with two
partners in the PV industry to exploit this new technology. We have also seen
good progress in the 'fine-line' technology for OLED flat panel displays. We are
now actively discussing programmes which would lead to a relatively early
commercial application of this technology.
Overall, the Group continues to make good progress as indicated in the half year
statement issued on 27 November 2007.
- Ends -
Enquiries:
Carclo plc 01924 268040
Ian Williamson, Chief Executive
Robert Brooksbank, Finance Director
Weber Shandwick Financial 020 7067 0700
Richard Hews/James White
Notes to Editors
About Carclo (LSE: CAR)
• Carclo plc is a global supplier of technical plastic components. It is a
public company whose shares are quoted on the London Stock Exchange.
• 75% 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.
• 25% 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
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