StockMarketWire.com - Plastics company Carclo lifted its annual outlook on performance after swinging to a profit in the first half of the year, driven by strength in its technical plastics business.

For the six months to 30 September 2021, pre-tax profit was £4.4 million compared with a loss of £0.9 million as revenue climbed 17.5% to £58.7 million.

Technical plastics revenues rose 19.8% to £56.6 million.

Looking ahead, the company said it anticipates full year underlying trading will be slightly ahead of expectations, even as margins for the second half were expected to be slightly lower than H1, reflecting the current higher cost environment.




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