- Carclo's trading in the year to the end of March has been in line with the board's expectations.

The group says the Technical Plastics division has, as expected, benefited from a much stronger second half trading performance compared to the first half of the financial year.

And it says its US business has performed particularly well, reflecting the new business wins achieved and the recent capacity expansion at its Latrobe, Pennsylvania facility. Demand has also been strong in the UK business.

The group's new facility in Taicang, China, is now fully operational and wit has validated and commenced supply to its global medical device customer. It says the forward pipeline for the Taicang facility looks very encouraging.

The group says it is currently expanding capacity in both its Bangalore, India, and Tucson, Arizona, facilities and, as expected, it anticipates bringing this capacity on stream mid-way through the new financial year.

The LED Technologies division has delivered a good second half performance with the Wipac super car lighting business continuing to perform very well.

The Precision Engineering businesses have had a better second half, benefiting from the stronger order book seen over recent months.

Carclo Diagnostics Solutions' technical progress has continued to be consistent with our published roadmap and the UK focussed healthcare practitioner market research exercise has completed.

It says: "In order to determine the optimal way to develop this opportunity for shareholders, we commenced discussions with potential commercial partners and appointed advisors to engage with more strategic collaborators. The Board believes that the feedback from these will be pivotal in concluding the appropriate strategy for the business."

The group says the board is pleased with the encouraging performance in the year just ended. The strong growth prospects in both Technical Plastics and LED Technologies provide the board with confidence in its expectations for the new financial year.

Carclo will announce its preliminary results for the year ended 31 March on 7 June.

Story provided by