Carclo (CAR)

Business description

Carclo is a specialist in high-precision plastic moulding principally in healthcare, optical and automotive applications. Its two main end-markets are high-volume medical consumables and low-volume, very high-value automotive lighting.

Stock data

Market cap.£99.3m
Last close135.50p
High / Low (52 weeks)179.0p / 118.0p
Stock market listingLN
Forecast net debt (£m)29
Forecast gearing ratio (%)54

Price performance

Relative *0.0(18.5)1.1

* % Relative to local index

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Company news

Carclo cut highlights 'Brexit' pensions pressure on dividends

Thu, 01 Sep 2016 08:55:18 GMT

Struggling Carclo plc jumps 15% after results. But is the company back on track?

Tue, 15 Nov 2016 13:07:30 GMT

Should You Invest In Car Stars Carclo plc Or GKN plc?

Wed, 18 Nov 2015 14:48:45 GMT

Is There Now An Opportunity In Carclo plc (LSE:CAR)?

Tue, 07 Nov 2017 16:52:30 GMT

Carclo plc (CAR) Earns Buy Rating from Peel Hunt

Fri, 17 Nov 2017 16:06:27 GMT

Y/E Mar Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2016A 119.0 13.8 8.8 10.1 13.4 6.4
2017A 138.3 17.0 11.0 12.1 11.2 10.5
2018E 148.1 19.3 12.5 12.9 10.5 7.1
2019E 159.6 22.3 15.0 15.2 8.9 4.5

Last updated on 18/10/2017

Investment summary

Following a change in strategy last year, Carclo is focusing investment on its two larger established businesses – Technical Plastics (CTP) and LED Technologies (LED). Here, a differentiated offer and long-term relationships with customers provide good earnings visibility and higher probability of a sustainable return. This strategy delivered strong revenue and profits growth during FY17. Despite a temporary setback at CTP during H118, which was balanced by outperformance at LED, growth appears set to continue, underpinned by contracts with blue-chip customers.

Last updated on 02/11/2017

Industry outlook

The AGM statement noted that CTP’s performance so far in FY18 has been held back by new key programmes slipping from H118 into H218 as well as some operational issues, which have been resolved. This has been balanced by outperformance at LED, where the level of design, development and tooling activity was ahead of expectations. In addition, the small Aerospace division is expected to have stronger sales in H218 as some new programmes move to serial production. We leave our estimates broadly unchanged, moving some FY18 revenue and profit from CTP to the LED and Aerospace divisions.

Last updated on 02/11/2017

Key management

Michael Derbyshire, Chairman
Christopher Malley, CEO
Robert Brooksbank, CFO

Company address

Springstone House
27 Dewsbury Road
United Kingdom
+44 (0) 1924 268040
View website