Carclo stabilises after first half loss

Plastics firm Carclo has reported a loss in its first half, but said its exit from the Wipac business will stabilise the group.
By Ros Snowdon
Published 21st Jan 2020, 17:00 BST
Carclo's chairman, Mark RollinsCarclo's chairman, Mark Rollins
Carclo's chairman, Mark Rollins

The Ossett-based company reported a statutory pre-tax loss of £5.6m in the six months to September 30, down from a £3.4m profit in the previous half year.

The firm reported strong performances from its two continuing businesses - aerospace and technical plastics.

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Revenue from continuing operations rose 12 per cent to £56m and underlying operating profit from continuing operations increased 56 per cent to £3.3m.

Carclo's chairman, Mark Rollins, said: "The strong results of the continuing businesses, along with the exit from the Wipac businesses after the period end, demonstrate the clear progress being made to stabilise the business.

"Whilst significant challenges remain in reaching agreement on the long-term funding of Carclo with the lending bank and pension trustee, the encouraging operational performances of the Technical Plastics and Aerospace Divisions provide a foundation on which a sustainable future for the group might be developed."

Related topics:Ossett