The turnaround at components manufacturer Carclo (CAR) is progressing nicely. In the year to March 2015, the technical plastics and LED lighting divisions grew revenues by 10.7 per cent and 20.9 per cent respectively, helping to increase underlying pre-tax profits 35 per cent to £7.1m.
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This was tempered by losses from the exit of the Conductive Inkjet Technology business, which contributed to £31.7m of exceptional costs. With this episode behind it, management is concentrated on investments in LED and plastics, and the emerging diagnostics division.
House broker Peel Hunt forecasts adjusted EPS and pre-tax profits of 10.1p and £9.2m this financial year, up from 7.9p and £7.1m in the 12 months to March 2015.
