StockMarketWire.com - Carclo swung to a first-half loss as weakness in its LED division weighed on performance. For the six months ended 30 September, pre-tax losses amounted to £5.5m compared to a profit of £3.3m on-year. Revenue increased 12% to £56.1m. The LED Division, where the principal Wipac UK and smaller Wipac Czech businesses were exited after the period-end, continued to have significant performance issues, the company said. Exceptional costs rose to £1.9m from £0.2m last year. 'Whilst significant challenges remain in reaching agreement on the long-term funding of Carclo with the lending bank and pension trustee, the encouraging operational performances of the technical plastics and aerospace divisions provide a foundation on which a sustainable future for the group might be developed,' Carclo said.
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