Carclo delivers ‘solid’ results

TOUCH screen developer Carclo today revealed that it had continued to trade in line with expectations in the first half of the financial year.

The group is expected to generate a much stronger second half result, partly due to the impact of new business wins. The Ossett-based company believes that its touchscreen technology - CIT - can transform the $10bn market for mobile phone and tablet computer touch screens.

The technology allows developers to make larger, lighter, less power-hungry, sleeker designs for smartphones, tablets and other products.

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In the six months ended September 30, the company achieved profit before tax of £1.76m, compared with £1.07m in the same period the year before.

Revenue rose by 13 per cent to £45m.

Michael Derbyshire, the company’s chairman said: “The group’s traditional businesses have produced solid results in the first half of the year and both Technical Plastics and LED Technologies are expected to enjoy a stronger second half with encouraging future growth prospects. CIT is now generating growing revenues from the supply of coated film to Atmel and its turnover and profitability are set to expand rapidly as the XSense programme ramps up in the next calendar year and beyond. The group’s balance sheet remains strong and its financing is secure.”

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