Carclo embraces 'strategic transformation' during a challenging period

Carclo, which provides high-precision critical components to the life sciences, aerospace, and technology industries, said it had embraced "a strategic transformation” over the last financial year during a challenging period.
By Greg Wright
Published 12th Jul 2023, 08:42 BST

Frank Doorenbosch, the company’s chief executive, said Carclo had risen above a number of obstacles and proven its ability to adapt and thrive in an evolving business landscape.

He made the comments as Carclo announced its results for the financial year ended March 31 2023

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Mr Doorenbosch added: "Despite the headwinds of inflation, rising interest rates, and other economic challenges, our unwavering commitment to excellence has enabled us to achieve a slight increase in revenue, reaching £143.4 million, an increase of 11.6 per cent on the prior year and 3.8 per cent at a constant currency rate.

Carclo has announced its results for the financial year ended March 31 2023. (Photo of London Stock Exchange supplied by The Press Association)Carclo has announced its results for the financial year ended March 31 2023. (Photo of London Stock Exchange supplied by The Press Association)
Carclo has announced its results for the financial year ended March 31 2023. (Photo of London Stock Exchange supplied by The Press Association)

He added: “Our success can be attributed to our strategic approach, which includes agile pricing adjustments to mitigate the impact of inflation and energy surcharges.

"Furthermore, our commitment to operational excellence has been exemplified through the implementation of factory specialisation measures, allowing us to enhance efficiency, streamline processes, and optimise our performance across our diverse range of offerings, including design and engineering and manufacturing solutions.

“In addition to navigating economic challenges, we have proactively addressed debt positions, rationalisation costs, and legacy issues, such as the successful settlement of the cancellation of a supply contracted framework agreement. Our improvement in cash conversion underscores our financial resilience and highlights the effectiveness of our strategic initiatives in managing inflation impacts and energy costs.”

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Mr Doorenbosch said he was filled with confidence and optimism for Carclo’s future.

He added: “Our strategy, centered around factory specialisation, process standardisation, operational excellence, financial stability, and sustainability, positions us for continued success. I am immensely grateful to the exceptional Carclo team whose unwavering dedication and relentless pursuit of excellence have propelled us forward in this challenging year. Together, we will continue to achieve positive results and drive our ongoing success.”