Carclo reports year of progress

The Ossett-based company said it had achieved encouraging financial results in the year to March 31.

Profit before tax increased by 46.5 per cent to £6.8m, while the total dividend increased by 10 per cent to 2.2 pence per share.

The company is in discussions with Ford to exit its volume automotive communications business over the next 12 to 18 months, allowing it to redeploy resources to accelerate the growth of its specialist LED lighting business.

The listed company is a global supplier of technical plastic components.

IN a statement, the company said its medical and LED optics businesses continued to identify opportunities for further growth which will support increased profitability in the technical plastics division.

In precision products, the company is set to benefit from improving productivity on current supercar lighting programmes and from design and development revenues on new programmes.

Trading at Carclo’s aerospace businesses was described as stable, profitable and cash generative.

The formation of Carclo Diagnostic Solutions provides an “exciting opportunity for Carclo to grow its business in diagnostic devices”, the company said.

Christopher Ross, the company’s chairman said: “Carclo has made good progress in the year to March 31 2011. Opportunities for further growth in our medical, LED optics and supercar lighting businesses and current developments at both CIT and CDS give the board confidence in delivering another year of progress for shareholders.”