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Carclo expects to deliver net profit on stronger-than-expected performance in CTP division
StockMarketWire.com
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Plastic parts maker Carclo said it expected to deliver an overall post-tax profit as stronger-than-expected performance in its CTP division offset pandemic-led weakness in its aerospace division.
'FY 2021 trading in the CTP division was stronger than the board had previously anticipated, with total revenue including tooling broadly in line with levels last year,' the company said.
The aerospace division was 'significantly' impacted by the downturn in air travel caused by the pandemic, the company said. 'Order intake was dramatically reduced in the first half but stabilised year on year in the second half, albeit at a lower level,' it added.
Looking ahead, the company said it expected the recovery in aviation markets would take longer and consequently that performance in the aerospace division in the current year will be similar to that achieved in FY 2021.
At 9:59am: (LON:CAR) Carclo PLC share price was 0p at 18.4p
Story provided by StockMarketWire.com
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