15th Oct 2015 06:58
LONDON (Alliance News) - Plastics company Carclo PLC on Thursday said it has traded ahead year-on-year in the first half of its financial year, but a recent announcement from Volkswagen AG will likely mean its results will miss market expectations.
Carclo said the announcement from VW that its flagship luxury vehicle due for launch in 2017 will not be launched as a fully-electric vehicle is still being assessed in terms of the effect this will have on the lighting requirement, but will almost certainly mean the launch of the vehicle will be delayed, hitting the timing of revenue for Carclo's Wipac unit in its LED Technologies division.
Other than the VW revenue delay, LED Technologies had a strong first half to the end of September, with robust lighting product sales leaving the division in line with the company's expectations overall.
Elsewhere in the business, Technical Plastics profit will be ahead year-on-year, despite taking a hit from the weak euro, while profit from Precision Engineering will be slightly weaker, as expected, due to some weakness in its spares segment order book.
Carclo will publish its interim results on November 17.
By Sam Unsted; [email protected]; @SamUAtAlliance
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