3rd Jun 2019 09:43
LONDON (Alliance News) - Carclo PLC on Monday delayed the publication of its annual results as discussions for the refinancing of the group and its Wipac business progress.
Carclo shares were trading down 9.9% at 29.00 pence each. The company said it will now publish its annual results on July 23 while it was originally slated to release them on Tuesday.
Carclo, a manufacturer of fine tolerance injection moulded plastic parts, said: "Discussions are continuing, both with customers to strengthen the financial and operational position of Wipac, and with our bank in relation to the refinancing of the group's borrowing facilities due to mature in March 2020."
At the end of April, Carclo warned that higher costs and lower revenue will result in annual profit being below expectations.
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