Frankseluk6
05 Jun 2018
Re: RECONFIGURATION The pension deficit may have gone down Lupo by group debt has risen by more.They also had a 300k tax credit this time against 2.5million expense last time ...not good at all.
Lupo di mare
05 Jun 2018
Re: RECONFIGURATION Mixed bag, but too much faith required that they've got a grip on the biz for my liking. They're still having difficulty covering required investment, and it's going to be some time before we see whether their efforts are paying off."As reported in January 2018, the Board recognised that there has been an ongoing reliance upon winning new tooling and automation contracts to drive profitability, particularly in Technical Plastics, and that such reliance needs to be mitigated by higher and more sustainable underlying operating margins and cash flows from CTP's existing manufacturing business. Accordingly, the Group has undertaken a fundamental review of the CTP division, particularly focusing on operating efficiencies and subsequent margins and cash flows. This review was wide ranging and looked at Cash generation, Operational performance, Management effectiveness and customer Pricing, ("COMP"
. The review has generated a clear action plan targeting improvements across the Division in all COMP areas. The results of the review have impacted many aspects of the CTP division. Changes have been made to the Divisional leadership team, including the appointment of a new Divisional Chief Executive, and Lean manufacturing principles have been re-introduced. Priority has been given to a continuous improvement philosophy across all CTP sites, recognising that momentum in this area has slowed during recent years, partly due to the distraction of the various site expansions undertaken to meet the high rate of growth in revenues. The COMP action improvement plan is well underway and whilst there will be some early benefits from these improvements in the new financial year, the philosophy of these activities will mean that the benefits will build..."I remain to be convinced that this is going to be anything other than a long drawn-out process, and continue to believe that part of the company should be sold to allow them to concentrate on the rest - free of debt. Whether that's TP or LED, who knows.Pension deficit has reduced, good, but investment performance was nothing to write home about; so that was all down to the discount rate.Too risky for me.
Frankseluk6
05 Jun 2018
RECONFIGURATION They've changed the name from new build/construction to RECONFIGURATION. But they have said they would slow this focus to concentrate on the underlying business which seems to be slipping away from them.
gretel
01 Jun 2018
Abbott introduce new Afinion system I notice the mighty Abbott Labs yesterday announced a new version of the Afinion multi-assay testing system (including for diabetes).Since CAR produce the disposable cartridges for Afinion this will presumably bring in continuing and hopefully even greater recurring revenue streams:[link]
Lupo di mare
30 May 2018
Upcoming results Next Tuesday, I read.Still not invested here, but will be reading it with interest. It's either undervalued, or in need of radical surgery.
mnamna
18 Apr 2018
Re: P/E of 8.4 - and an impressive new F... Lupo - probably very wise choice. You will not be the only one waiting to see.There is precious little information to go on right now. Another profit warning is as likely as a miraculous recovery? Given we don't know what is happening. So I shall also be awaiting the results before making any decisions (I am currently holding).Meanwhilst the share does appear to be cheap. But for a reason. The company has consistently over promised and under delivered, even with its core divisions. The companies are profitable and future prospects look good but they are saddled with Nebt Debt that refuses to fall despite cancelling the dividend and the £M payment to fund the pension deficit is a genuine outflow. I doubt the new chairman or FD can fix all CAR's issues in one go so there will probably be time to get in later. Just avoiding any more nasty surprises would be an improvement in my book. And if this new management is as impressive as they seem they will remain cautious for a while yet. cheersthe Way - Bearish commentary is as welcome as Bullish commentary - it all helps an informed debate.
Lupo di mare
17 Apr 2018
Re: P/E of 8.4 - and an impressive new F... Me - "On the other hand, maybe I'll dip my toe in...."Nah, decided to await the next results before making any investment.
Lupo di mare
17 Apr 2018
Re: P/E of 8.4 - and an impressive new FD The new FD's appointment could be good news, or more of the same.Apparently, she recently led a strategic review of Rotork's business. Well the reviews are still "ongoing", so what led her to leave before completion of the reviews? Maybe she didn't see a future in Rotork - who knows.I don't wish to appear consistently negative about Carclo. What I would like her to do, as readers will be fed-up with hearing from me, is to flog the LED, clear the debt and big-up on TP. Is that the right course to take? I'm just an old salt, so what do I know. If she did want to do that, would she be allowed to?Maybe I've missed a big surge on this one, but it's not the only fish in the sea. On the other hand, maybe I'll dip my toe in....
gretel
17 Apr 2018
P/E of 8.4 - and an impressive new FD 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:[link]
gretel
12 Apr 2018
Re: News of expansion in India Apologies, the news is coming too thick and fast for me 
))Nice to see the share price up 3p today to 94p mid-price.
Lupo di mare
12 Apr 2018
Re: News of expansion in India Gretel - "More expansion news not posted here before..."Do my eyes deceive me, or did you not post that link last Friday? I've probably missed something important.
gretel
12 Apr 2018
News of expansion in India More expansion news not posted here before, this time in Bangalore, following the recent opening of the additional UK facility in Surrey:[link] facility expansion23 Mar 2018LONDON, 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."
Lupo di mare
11 Apr 2018
Re: Peel Hunt: Buy with 130p target Just to refresh investors memories regarding expectations, this is a snippet of the update to which they refer."The stronger second half performance across the Group, anticipated at the time of the Interim Results in November last year, is not now expected to be achieved. Accordingly, the Board now expects the Group's performance for the current financial year to be significantly lower than previously planned.The Group's financing remains healthy and it continues to operate well within its banking covenants."Best to note all that before breaking out the champers. Lupo - still not invested, righty or wrongly.
gretel
11 Apr 2018
Peel Hunt: Buy with 130p target Peel Hunt retain their Buy and 130p target for CAR - 45% upside from here:[link] 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.
Frankseluk6
10 Apr 2018
Re: Encouraging trading update today Market cap may be only £65m.But if I wanted to buy the company ill need many many times that to cover debt and pension deficit.
