Carclo Share Discussion Threads

[rivaldo] 18/4/2018 11:14

Nice surge over 100p now, caused by 21,000 of buys at around 98p. Could be an indication of not much stock around.

[rivaldo] 17/4/2018 08:51

Edison's latest forecasts are now for historic 9.2p EPS, with 11.2p for this year - and a 3.9p dividend.

And a rather impressive new FD appointment today, with a good track record:

[rivaldo] 12/4/2018 10:01

Good spot - apologies, the news is coming too fast for me :o))

Nice to see the share price up 3p today to 94p mid-price (the thread header chart is hopelessly behind the times as usual).

[pldazzle] 12/4/2018 09:44

Rivaldo, didn’t you post that at 751?

[rivaldo] 12/4/2018 07:25

More expansion news not posted here before, this time in Bangalore, following the recent opening of the additional UK facility in Surrey:



"Bangalore facility expansion
23 Mar 2018

LONDON, 23 March 2018. Carclo Technical Plastics Ltd (CTP) announces that it has expanded its manufacturing facility in Doddaballapur near Bangalore, India, enabling it to continue serving existing customers in the electronics industry and target the growing local medical market.

CTP’s facility is accredited to ISO 9001 (ISO13485 pending) and has a capacity for approximately 40 injection moulding machines plus assembly capability. Key to the expansion is a new medical hall, equipped with state-of-the-art, all-electric injection moulding machines from leading supplier Fanuc.

CTP has invested in new manufacturing space, injection moulding machines, ancillaries and specialist staff in Bangalore as it targets medical customers in the region. The expansion also provides significant scope for growth.

CTP India Managing Director Gary Allan stated “Carclo Technical Plastics was initially established in Bangalore in 2007 with support from Suprajit Engineering, a long term partner of Carclo. This was followed by construction of a new, purpose-built operation in the same location in 2010. The business has built a strong reputation for high quality, reliable supply and customer service. CTP’s global facilities have long been involved in manufacture of disposable diagnostic and delivery devices and we are delighted to be expanding our facility in Bangalore and targeting medical plastic component opportunities in India.”

Carclo Technical Plastics, www.carclo-ctp.co.uk, is the largest division within Carclo plc with manufacturing operations in the UK, East and West USA, Czech Republic, India and China. The business increasingly adds value to its customers by assembling and packaging finished devices for the medical, pharmaceutical, diagnostic and ophthalmic sectors. Typical products include drug delivery devices such as injection devices and asthma inhalers and diagnostic consumables such as pipette tips, reagent packs and Point-of-Care cartridges."

[rivaldo] 11/4/2018 09:27

Peel Hunt retain their Buy and 130p target for CAR - 45% upside from here:



CAR have now definitively stated that their results for last year will be in line with expectations.

I note that Peel Hunt have retained their forecasts of historic 8.95p EPS, with 10.92p EPS forecast for this year - a P/E of only 8.

Peel Hunt also have the dividend being reinstated at 2p.

Incidentally, that would imply CAR achieved 4.45p EPS in the last H2 despite the order delays etc. Which bodes rather well for the current year.

In addition, Peel Hunt's forecast is the lowest in the market - for example, Edison go for 11.2p EPS, Finncap 11.1p EPS and Equity Development 11.4p EPS.

[queeny2] 10/4/2018 16:58

I can see both sides of the argument.If they can match H1 and do 9p of earnings that would be a good result. It's not clear to me that they will, but who knows.The bear case is in these two excerpts from the warning:"In addition, as a consequence of some of these delayed projects and lower customer orders, the Board has now reduced its profit expectations for the 2018/19 financial year" ..... lower customer orders, not just delays"In view of the disappointing reduction in anticipated profitability for the current year, a more fundamental and urgent review of operating efficiencies and margins at this division is to be undertaken." ..... the new chair is not at all happy with CTP underlying economics on existing business. Can he fix that with operating efficiencies? Or is it just a low margin business.If he can steady the ship, and return to any sort of growth, then absent the pension and debt it looks fine, even cheap.

[rivaldo] 09/4/2018 09:51

CAR was a different company in those days as a blue sky speculative stock with good core businesses which didn't come off.

Now it's a (relatively!) solid and very profitable stock - on a P/E of 7.9 - with good recurring income and niche specialisms with high barriers to entry.

The earlier trading statement noted in LEDs "the previously awarded mid-volume programmes commence production from 2019", and re CTP "the new medical programmes won in Technical Plastics are expected to underpin good growth in this division".

With the additional delayed work from the year to March'18, I suspect this year and next year could go rather well assuming stable markets.

The core businesses have been consistently and extremely profitable - see the thread header post - with just the one blip last year. I believe this core business will continue to show good global growth.

[meijiman] 09/4/2018 08:51

Yes it's cheap but with the track record of this management who would want to buy the shares. From near 500p to 80p is some achievement. Their customers seem to hold the whip hand on pricing.

[rivaldo] 09/4/2018 08:44

Good - a short and sweet year end trading update confirming that trading is in line with revised expectations. So, no more banana skins and the rot has been stopped.

That means historic 9.15p EPS, and a current year forecast consensus 11.1p EPS.

Which is a P/E of 7.9.

More detail of course with the upcoming prelims.

[rivaldo] 06/4/2018 06:48

Trading update will I assume be next week as usual. Given the director buying I'm hoping it'll be good.

Even if CAR only meet the revised 9.15p EPS expectations they'll be on a derisory single-figure P/E, with 11.1p EPS forecast for the current year.

News of expansion in India:



"Bangalore facility expansion
23 Mar 2018

LONDON, 23 March 2018. Carclo Technical Plastics Ltd (CTP) announces that it has expanded its manufacturing facility in Doddaballapur near Bangalore, India, enabling it to continue serving existing customers in the electronics industry and target the growing local medical market.

CTP’s facility is accredited to ISO 9001 (ISO13485 pending) and has a capacity for approximately 40 injection moulding machines plus assembly capability. Key to the expansion is a new medical hall, equipped with state-of-the-art, all-electric injection moulding machines from leading supplier Fanuc.

CTP has invested in new manufacturing space, injection moulding machines, ancillaries and specialist staff in Bangalore as it targets medical customers in the region. The expansion also provides significant scope for growth.

CTP India Managing Director Gary Allan stated “Carclo Technical Plastics was initially established in Bangalore in 2007 with support from Suprajit Engineering, a long term partner of Carclo. This was followed by construction of a new, purpose-built operation in the same location in 2010. The business has built a strong reputation for high quality, reliable supply and customer service. CTP’s global facilities have long been involved in manufacture of disposable diagnostic and delivery devices and we are delighted to be expanding our facility in Bangalore and targeting medical plastic component opportunities in India.”

Carclo Technical Plastics, www.carclo-ctp.co.uk, is the largest division within Carclo plc with manufacturing operations in the UK, East and West USA, Czech Republic, India and China. The business increasingly adds value to its customers by assembling and packaging finished devices for the medical, pharmaceutical, diagnostic and ophthalmic sectors. Typical products include drug delivery devices such as injection devices and asthma inhalers and diagnostic consumables such as pipette tips, reagent packs and Point-of-Care cartridges."

[queeny2] 28/3/2018 11:41

Thanks robow

[currypasty] 28/3/2018 11:00

there was a trading update last year in April, but I haven't seen anything from company that states they will give one this year on same day... Personally I think they should give some guidance as to how those contracts are progressing..

[robow] 28/3/2018 09:46

I saw it on Sharepad

[queeny2] 28/3/2018 09:00

Robow I can't see that date announcement on their website, is it there please?

[robow] 27/3/2018 14:39

Full year trading statement on 10th April

[rivaldo] 26/3/2018 08:34

Interesting start to the week - £53,000 of early buys at 87p and an immediate move up to new recent highs.

[rivaldo] 16/3/2018 07:13

Good news:



"Carclo Technical Plastics opens new UK facility
14 March 2018

Carclo Technical Plastics (CTP) announces the official opening of its new manufacturing facility in Mitcham, Surrey.

The new facility, which is based in Mitcham, Surrey, has invested in new manufacturing space, injection moulding machines, ancillaries and specialist staff support this and other projects.

CTP has worked with BD Medical – Pharmaceutical Systems on the development and scale-up of its DV Vystra disposable pen.

The new facility is intended for the manufacture of this product and was opened by councillor Stephen Alambritas and deputy mayor Judy Saunders from the London Borough of Merton.

CTP’s UK managing director Patrick Ward stated “Carclo Technical Plastics is a specialist contract manufacturer of disposable diagnostic and drug delivery devices for the global medical industry. The Vystra ™ device underpins CTP’s continued growth within this sector.”

[rivaldo] 12/3/2018 10:51

Big trades this morning at 85p - one of 997,000 shares and another of 650,000 shares. Hopefully institutional holdings being sorted out/swapped.

[rivaldo] 05/3/2018 13:33

Lots of AT trade (institutional) buying in recent days in lots of 25k and 10k, with more today, is finally making its mark. Hopefully this bounce has a long way to go.

[denc] 27/2/2018 21:31

yep, running my hotel in the caribbean, chilling out

[queeny2] 22/2/2018 15:06

Curry I think they all operate independently and on different individual product runs? (More generally the relationship between ginormous car companies and minor suppliers is more of concern to me, contracts can come at the expense of margins).

[queeny2] 22/2/2018 15:04

Good shout Rivaldo, I didn't see they made a second comment on LED a couple paras later.