14th Apr 2023 10:44
Carclo PLC - West Yorkshire, England-based engineering solutions provider for the medical, optical and aerospace industries - Expects profit performance for the year ended March 31 to be below the previous year. For financial 2022, pretax profit was GBP5.1 million. Says it has encountered the "dissolution of a major manufacturing contract, the adverse effects of rising input costs on margins, and increasing interest rates" in financial 2023. Notes its Aerospace division is witnessing a robust recovery as the aviation industry rebounds. Looking ahead, Carclo says it is implementing measures to enhance manufacturing and supply chain efficiency. Expects to deliver improved performance over the medium term.
In November, Carclo posted revenue of GBP72.2 million for the six months that ended on September 30, up 23% from GBP58.7 million the year before. Pretax profit fell by 61% to GBP1.7 million from GBP4.4 million.
Current stock price: 11.00 pence each, down 12% on Friday morning in London
12-month change: down 58%
By Xindi Wei, Alliance News reporter
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