27th Apr 2021 11:09
(Alliance News) - Shares in Carclo PLC shot up on Tuesday after it announced resilient trading for the year, despite the pandemic.
The stock was trading 10% higher at 39.29 pence each on Wednesday morning in London.
The West Yorkshire-based plastic parts manufacturer said revenue broadly kept pace with pre-pandemic levels and that a post-tax profit had been delivered for the year to March 31. Revenue for the Carclo Technical Plastics division was "broadly in line with last year", while its Aerospace division's revenue dropped following the pandemic's impact on air travel.
Net debt at year end had been reduced to GBP20 million, down 9.5% from GBP22.1 million in 2020, Carclo said.
Carclo said momentum had been "built steadily in the second half of the year, with a successful focus on winning new business, operational execution and cash generation."
By Will Paige; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Carclo