News Column

Carclo Raises Dividend As Pretax Profit Jumps 48% On Sales Growth

June 10, 2014

Tom McIvor

LONDON (Alliance News) - Carclo PLC Tuesday said pretax profit almost doubled in its recent full year as the company saw sales growth in both its traditional and new operations.

The technology-led plastics company said pretax profit increased 48% to GBP4.8 million for the twelve months ended March 31 from GBP3.2 million the previous year, as revenues increased 12% to GBP97.3 million from GBP86.5 million.

The company said it saw a particular jump in Conductive Inkjet Technology sales to GBP3.3 million from GBP661,000, and its LED Technologies sales increased by 22% to GBP28.2 million from GBP23.0 million previously.

Carclo upped its full-year dividend by 3.9% to 2.65 pence from 2.55 pence, after proposing a final dividend of 1.80 pence.

However, the company did note that it faced GBP500,000 in exceptional charges, due mainly to GBP400,000 in litigation costs related to a claim against Uni-Pixel Inc which has now been settled.

The company said it is well positioned for its businesses to grow despite some markets, specifically for touch screens, becoming increasingly competitive.

"The group is poised for further growth both in its traditional areas and in its new technology ventures. It has the resources, bank facilities and business prospects to drive this growth over the coming years and generate shareholder value," Chairman Michael Derbyshire said in a statement.

Carclo shares were down 0.4% to 124.00 pence on Tuesday.

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Source: Alliance News

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