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Carclo swung to a loss on lower revenue as weakness in its LED technologies division offset 'encouraging' performances in its technical plastics and aerospace segments.
For the full year ended 31 March 2019, the company reported a pre-tax loss of £14.6m, compared with a profit of £8.2m a year earlier and revenue decreased by 1.0% to £144.9m.
The year was an extremely challenging one for Carclo, with Wipac's poor operational and financial performance putting significant pressure on the whole group, the company said.
The operating and financial performance at Wipac, the main business in the LED technologies division, deteriorated through the year, driven by a 'significant number of new programme launches,' it added.