7th Apr 2014 09:39
LONDON (Alliance News) - Technical plastic products supplier Carlco PLC Monday said it traded in line with expectations for the year ended March 31, boosted by an increase in customer activity and coated film sales in its Conductive Inkjet Technology business, as well as a strong fourth quarter from its Technical Plastics division.
Carclo operates in four business segments; Technical Plastics, LED Technologies, Precision Engineering and Conductive Inkjet Technology.
The UK-based technology led plastics company said its technical plastic business, which supplies fine tolerance and injection moulded plastic components, said that growth picked up in the second-half of the year, especially in the fourth quarter, driven by growth from new contracts.
It said the recent expansion of its US facilities is well timed for the new contracts, which will benefit the business in the coming year also, and said that expansion to its Czech Republic facility is also currently underway.
"We commenced consultation with the workforce of our facility in Harthill [in the] UK regarding a possible closure of this loss making plant," the company said in a statement.
Carclo said its Conductive Inkjet Technology business, which undertakes applied research into the digital printing of conductive metals onto plastic substrates, saw an increase in coated film sales during the year, which it said it expects to continued into its new financial year as customer activity accelerates.
The group said its LED Technologies division was boosted by a significantly stronger second-half in both Wipac and its LED Optics business.
Carclo said that its Precision Engineering segment, which supplies systems to the manufacturing and aerospace industries, continues to perform satisfactorily, with a financial performance at similar levels to the prior year.
The group said that it will announce its preliminary results for the year on June 10.
Carclo shares were trading 6.1% or 10.88 pence higher Monday morning at 188.62 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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