Carclo says trading in line after ‘solid’ first half

The Osset, West Yorkshire-based company added it has traded in line with its expectations and its financial position remains strong.

“The board remains confident in the outlook for the full year,” it said.

Carclo said profits in its technical plastics division will be slightly behind last year’s first half, which was “unusually strong”. However, it said the division has benefited from further growth in its US medical business and the expansion of its Indian business.

Carclo added it has seen continued growth in its supercar lighting business, with profits ahead of a year ago. Its aerospace businesses have traded well and have returned to profit growth, said the company.

Its Fine Line Technology project, part of its Conductive Inkjet Technology division, has made “significant progress” and its Cambridge pilot line facility is ready for production.

Carclo said the pace of sampling for smartphones and tablets has stepped up and production yields on larger format screens are “encouraging”. It expects volume production to begin in its fourth quarter.

Carclo is currently in talks with its banks on re-financing, and expects to complete this shortly.