Carclo reports ‘strong progress’ as profits rise

Mitie has swung to a loss
Mitie has swung to a loss
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TECHNICAL plastics firm Carclo said it had achieved a “strong” full year trading performance after securing two acquisitions.

In the year ended March 31, Carclo’s revenue increased by 16.2 per cent to £138.3m. The firm’s operating profit more than doubled to £12.0m from £5.2m.

Carclo, based in Osset, West Yorkshire, has developed touchscreen technology for tablet PCs and mobile phones.

Commenting on the results, Michael Derbyshire, the company’s chairman said: “The group has yet again delivered a strong trading performance during the year, and made excellent progress in implementing its stated strategic objectives.

“The two acquisitions made during the year are well aligned to our strategy and we have been successful in rapidly integrating both companies into the group.”

Mr Derbyshire said Carclo remained on course to deliver strong improvements in returns over the coming years to its shareholders.