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IN BRIEF: Carclo says design & engineering sales exceeding forecasts

31st Aug 2023 17:42

Carclo PLC - West Yorkshire, England-based engineering solutions provider - Updates on trading. Says sales at its CTP design & engineering business have exceeded expectations year to date, while the order book remains robust. In the CTP US manufacturing solutions business, a tight labour market has posed operational challenges across all of US facilities. "While the initiation of a significant project with a major customer has seen some delays, and we've observed a softer demand in the early part of the year due to destocking at our customers, we remain optimistic about the future trajectory," company says. The CTP EMEA manufacturing solutions business has emerged stronger post-restructuring with the results are evident in an enhanced operational performance. The Aerospace division is experiencing a notable resurgence, with indicators showing the market is rebounding to its pre-Covid levels. Financially, the focus on cash conversion and margin improvement, rather than just sales growth, is beginning to reflect positively on the balance sheet, Carclo notes.

Current stock price: 13.00 pence

12-month change: down 30%

By Jeremy Cutler, Alliance News reporter

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