Interim Management Statement

RNS Number : 1168K

Carclo plc

16 August 2012

 



16 August 2012

Carclo plc

 ("the group")

Interim Management Statement

Trading remains in line with the board's expectations and we are looking forward to another year of progress for the group across all of our business streams.

Conductive Inkjet Technology's ("CIT's") fine line touch sensor technology is on track with the programme outlined in the group's preliminary results announcement released on 12 June 2012. We expect the first production shipments to be made from Cambridge in the third quarter 2012 and that will trigger the receipt of a $10.0 million prepayment from our partner, Atmel Corporation, in the fourth quarter 2012.

Our Technical Plastics division has enjoyed a strong period in terms of new business awards despite some signs of weakness in short term schedules in a small number of customers. We are now planning to bring forward a substantial capacity increase in our US medical business to absorb this additional business.

Our LED Technologies division has a pipeline of new projects in Wipac's supercar lighting business that should deliver good growth over the next two years. 

Due to working days and seasonality, the second half of our financial year is usually stronger than the first half. This year this effect will be further amplified by the build-up in volume production at CIT in the second half.

The group's financial position has been strengthened significantly by the recent equity placing where funds of £13.3 million (pre-expenses) were raised in order to reduce group indebtedness to a more suitable level for an expanding technology company and to enable the group to resource its longer term growth strategy for CIT and Carclo Diagnostic Solutions.

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Enquiries:
Carclo plc	01924 268040
Ian Williamson, Chief Executive
Robert Brooksbank, Finance Director
Weber Shandwick Financial	020 7067 0700
Nick Oborne / Stephanie Badjonat / Robert Cook

 

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