Full Year Results 

Carclo belatedly manages expectations

Carclo belatedly manages expectations

Back in January, Carclo (CAR) warned that financial performance for 2018 would be “significantly lower than previously planned”, which took the sting out of these figures. However, the resultant operational review of the technical plastics (CTP) division was probably overdue, given the 23 per cent contraction in the segment’s underlying operating profit. Contract delays and operational inefficiencies undermined profitability, along with a steep rise in exceptional items, although earnings were flattered by unfavourable corporate tax adjustments in the prior year.

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