Previously on components company Carclo (CAR), in May with the shares up to 14p I wrote “pleased to announce” contract cancellation conclusion, but still what about those banking covenants? and concluded ahead of its year ended 31st March 2023 results detail I still avoided. What then now, on the results announcement and the shares currently at 12p?
Previously writing on company now describing itself as “a preferred and trusted partner of global customers, providing high-precision critical components to the life sciences, aerospace, optics, and technology industries”, Carclo (CAR) in December with the shares down to 11.5p I noted ‘profit warning and banking covenants ‘discussions’ (as warned here)… continue to avoid’. The shares last closed at 12.475p but are currently down to 11p on the back of a “trading statement”.
Previously writing on company describing itself as “a global provider of value-adding engineered solutions for the medical, optical and aerospace industries”, Carclo (CAR) last week with the shares down to 13p I noted it stating it “evaluating the financial impact and taking mitigating actions” following a contract cancellation, but how many mitigating actions can it take?!. Now a further “trading update”.
Carclo (CAR) “is pleased to report that the business expects to report a strong performance for the year” and that “demand in the group's key markets remains strong coming into the new financial year”. So what of a current share price of 24.5p, down nearly 10%?!...
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