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Carclo maintains full-year outlook despite technical plastics underperformance

By BFN News | 08:05 AM | Friday 12 October, 2018


Carclo maintained full-year guidance Friday even as first-half results undershot expectations owing to underperformance at its technical plastics segment. Poor performance in the technical plastics segment was blamed on customer delays of three new medical programmes in the period, though all programmes entered production successfully towards the end of the first half of the year. This, together with planned new tooling programmes, should bode well for a stronger second half performance, the company said. The smaller aerospace division performed slightly ahead of expectations as a result of higher margins and tight control over costs, while production had been solid in the LED division, the company added. 'The board's expectations for the year ending 31 March 2019 remain unchanged, with results weighted towards the second half of the year, as expected,' the company said. 'This reflects the full effect of the new programmes, expected customer timings on projects and the anticipated improvement in margins at Wipac in addition to cost saving initiatives, ramp up in production volumes and expected higher design and tooling profits in Technical Plastics,' it added. At 8:05am: (LON:CAR) Carclo PLC share price was -14.6p at 72.5p Story provided by StockMarketWire.com

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