Carclo plc
15 August 2007
For Immediate Release 15 August 2007
Carclo plc
Interim Management Statement
The board is pleased to report a positive start to the new financial year with
the group trading in line with our expectations for the three months ended 30
June 2007.
Sales in Technical Plastics are ahead of the same period last year despite the
adverse translation impact from a weaker dollar. As expected, the specialist
medical and optical business continues to grow with new projects which came on
stream in the second half of last year now running at full production.
In the UK, the Technical Plastics operations delivered an encouraging sales
performance. As part of our continuing plan to drive margin growth we have
initiated a modest rationalisation programme at our Slough facility and
commenced the transfer of the majority of the 24/7 programmes to our other UK
facilities.
The Precision Products business has had a good start to the year. Last year the
automotive business was affected by an adverse shift away from its higher margin
multiband antenna product which impacted profitability. This year, a temporary
surge in demand for multiband has resulted in sales and profits in the first
quarter being well ahead of the same period last year.
Investment in new technologies has continued during the first quarter of the
financial year with good progress continuing to be made at Conductive Inkjet
Technology ('CIT') across a broad range of very promising opportunities. We are
seeing a demand for production quantities of products, especially RFID enabled
products, from the high volume MetalJet 6000 machine. Our US partner, Preco, has
invested in a first production installation of MetalJet 6000 and is planning to
offer a contract manufacturing service alongside the sale of complete machine
installations. The Preco facility is anticipated to be operational before the
end of this calendar year and is expected to generate significant future ink
revenues for CIT.
Overall, therefore, there have been no significant changes in the position and
outlook for the group since the results for the year ended 31 March 2007 were
published ten weeks ago.
- Ends -
Enquiries:
Carclo plc 01924 268040
Ian Williamson, Chief Executive
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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