Carclo appears to have been the unfortunate victim of VW’s need to clean up its act, with a flagship luxury vehicle now expected to be redesigned as an electric vehicle and the consequent delay thereby affecting Wipac’s performance this year and next. This means that we are downgrading FY16 PBT by 8% from £9.5m to £8.8m and FY17 by 10% from £11.2m to £10.2m. This impact from one programme is disappointing, but the underlying trends for the Technical Plastics and LED Technologies divisions remain ....
15 Oct 2015
VW impact; forecast downgrades
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VW impact; forecast downgrades
Carclo plc (CAR:LON) | 7.4 0 0.0% | Mkt Cap: 5.47m
- Published:
15 Oct 2015 -
Author:
Jon Lienard -
Pages:
3
Carclo appears to have been the unfortunate victim of VW’s need to clean up its act, with a flagship luxury vehicle now expected to be redesigned as an electric vehicle and the consequent delay thereby affecting Wipac’s performance this year and next. This means that we are downgrading FY16 PBT by 8% from £9.5m to £8.8m and FY17 by 10% from £11.2m to £10.2m. This impact from one programme is disappointing, but the underlying trends for the Technical Plastics and LED Technologies divisions remain ....