Luxury car demand boosts Carclo

'‹'‹Plastics firm'‹ Carclo '‹reported strong trading at its '‹LED Technologies division'‹,'‹'‹ which '‹provides lighting for top of the range luxury cars such as Aston Martin, Lamborghini and McLaren. '‹
Carclo CEO Chris MalleyCarclo CEO Chris Malley
Carclo CEO Chris Malley

The ​Ossett-based ​group​​ said an out-performance ​at its ​​LED Technologies division​ is​ expected to offset ​a weaker than ​expected performance ​at its Technical Plastics divisio​n and trading in the year to March 2018 is in line with expectations​.

​The firm said its ​Technical Plastics ​division ​had a challenging start to the financial year with new programmes ​being ​delayed ​until the second half and some operational challenges, which have now been largely resolved.

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​The group said the division's ​performance is now much improved and ​it should have a considerably better second half of the year​.

LED Technologies​ ​​reported​ an ​​encouraging​ first half, performing ahead of expectations​. The group's Wipac business ​saw good product sales on various supercar lighting programmes.

New business activity ​in the division grew ahead of expectations​ and customer audits of ​its​ mid volume programmes have confirmed ​it is well advanced with preparations for manufacturing ​and it is meeting their high expectations.

The Aerospace division is expected to have stronger sales in the second half of the financial year as new programmes move to serial production.

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​T​he ​b​oard ​said it ​anticipates that the ​g​roup's usually stronger second half performance ​will be more pronounced​ this year​, driven by​ the​ out​-​performance ​of​ LED Technologies and an improved performance ​in​ Technical Plastics.

The ​group expects to deliver ​annual results in line with previous expectations and ​said it ​is confident that all divisions are well placed to make strong progress ​in the future.