5th Feb 2015 08:22
LONDON (Alliance News) - Plastics products company Carclo PLC saw its shares rise early Thursday after the company said it expects to beat its expectations for the full year on the back of stronger-than-anticipated trading in the second half.
Carlo said it expects its results for the year to the end of March to be ahead of its previous expectations, on the back of a stronger-than-expected performance for its technical plastics business in the second half, boosted by new business and the integration of new programmes.
The company added the performance of its LED technologies unit has been strong, with contract wins in the second half in line with expectations and the design and development of new supercar programmes now underway.
Its precision engineering business is benefiting from a strong order book and an improving new business pipeline, the company said, and it expects the moderate growth seen this year to continue in its next financial year.
It added its diagnostic solutions arm is making progress and said its strategic review of the CIT Technology business is ongoing and remains on track to complete by the end of the financial year.
Carclo shares were up 13% to 113.674 pence in early trade, the best performer in the FTSE All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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