Interim Management Statement

RNS Number : 5128X

Carclo plc

16 February 2012

 



                                                       16 February 2012

Carclo plc

("the group")

Interim Management Statement

Trading to date has been in line with our expectations and the group is enjoying a much stronger second half as expected.

Looking forward, Technical Plastics is seeing some short term inventory corrections as some of its major customers respond to slowing markets - February schedules are weaker than we anticipated and we expect this temporary slowdown to continue into March. We now expect the contribution from Technical Plastics to be similar to last year. At this stage we judge that this is a temporary inventory correction, and expect the division to return to growth next year based on new programmes and recent contract awards.

Precision Products is still enjoying firm demand and will trade slightly ahead of our expectations compensating to some extent for the slower demand in Technical Plastics.

Conductive Inkjet Technology's ("CIT's") important touch screen project continues on track. We expect to be able to provide a fuller briefing on the status of the commercial launch in our Pre-close Trading Statement due in the first week of April. In printed electronics we have commenced volume shipments of InkJetFlex product for an innovative medical product boosting second half revenues at CIT. Our Organic LED application projects are making good technical progress.

Overall we are confident of delivering good growth for the year and are looking forward to an exciting and transformational year for the group in 2012/13. The group's financial position remains strong following the renewal of the bank facilities which are now in place until 2015.

- ENDS -

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

Notes to editors

·       Carclo plc is a technology led plastics group. It is a public company whose shares are quoted on the London Stock Exchange.

·       Two thirds of sales are derived from the supply of fine tolerance, injection moulded plastic components, which are used in medical, optical and electronics products. This business, Carclo Technical Plastics, operates internationally in a fast growing and dynamic market underpinned by rapid technological development.

·       A third of sales are derived from the supply of specialised precision products to the premium automotive and aerospace industries. Carclo is a leader in the development of high power LED lighting for supercars.

·       Carclo's strategy is to develop new technologies and products to drive future growth. Its investment in Conductive Inkjet Technology is at the heart of the newly emerging market for very low cost printed electronics.

 

END

 

 

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