LONDON (ShareCast) - Technical plastic components supplier Carclo (LSE: CAR.L - news) said underlying operating profits from continuing
operations rose 8.7% in the year ended 31 March 2009 after a good performance in its Precision Products division.
Carclo's Precision Products has recently seen a slow down in demand for aerospace components but it expects the sustained growth in Wipac's specialist lighting business to compensate to some extent for the lower demand in aerospace components and automotive antennas, it said in a company statement.
Underlining confidence in the group's performance, a final dividend of 1.35p has been recommended, up from 1.3p the year before.
For the year underlying operating profit from continuing operations rose to 6.2m on revenue of £87.4m compared with £81.3m a year earlier.
Its medical and specialist optical business continues to grow and has been largely unaffected by the world recession, Carclo added.
"This, coupled with the cost reductions completed last year, should deliver growing profitability in the Technical Plastics division."
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