|
Carclo PLC - West Yorkshire-based plastic parts manufacturer - Posts revenue of £72.2 million for the six months that ended on September 30, up 23% from £58.7 million the year before, driven by ‘growth with new and existing life sciences customers, forex tailwinds and price increases’. Pretax profit, however, falls by 61% to £1.7 million from £4.4 million, which included a Covid-related US government grant income worth £2.1 million.
Says revenue in Aerospace grows by 45% to £3.0 million from £2.1 million the year before as ‘aircraft manufacturers responded to increasing passenger numbers from the low levels during the height of the Covid pandemic’.
Looking ahead, Carclo says demand for its products remains robust, but expects the ongoing cost inflation to ‘exert downward pressure on margins’ throughout the second half of the year and into financial 2024. Expects performance in the second half to be similar to that of the first half.
Current stock price: 14.46 pence, down 8.2% on Wednesday in London
12-month change: down 66%
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
