The London Stock Exchange uses cookies to improve its website. The cookies for analytical purposes have already been set. For more details and how to manage cookies, please see our privacy and cookies policy.

Alliance News Detail


Sweden's Duroc Keeping Eye On Carclo As It Builds 7% Holding (ALLISS)

[ 08 Feb 2019 14:36 ]

LONDON (Alliance News) - Carclo PLC on Wednesday said Sweden's Duroc AB now has a 7.1% stake in the company following two deals on Monday and Tuesday.

Carclo also said Wednesday that Aberforth Partners LLP lowered its holding to 9.0% from just under 12% on Tuesday, while Axxion SA on Monday reduced its holding to 5.9% from 6.5%.

Carclo makes high-tolerance moulded plastic products for use in industries such as medicine and electronics. Stockholm-listed investor Duroc has a fibre company and two industrial trade businesses making tools and engines, as well as rail and laser coating businesses.

Speaking to Sweden's Finwire, Duroc Chief Executive John Hager commented: "The investment is in the first place a financial investment. Now we'll see what's going on in the future.

Hager continued: "There are no overlapping activities, but we complement each other in several areas. Carclo has a strength in the automotive sector but is also active in the healthcare area. It is a very fine business."

In its last financial year ended March 2018, Carclo's pretax profit fell to GBP8.2 million from GBP10.5 million, as revenue increased to GBP89.7 million from GBP87.8 million.

When contacted by Alliance News, Carclo said there was no one immediately available to comment on the Duroc investment.

Carclo shares were down 1.3% on Friday afternoon at a price of 45.93 pence each. The stock is up 42% so far in 2019.

By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.


Sweden's Duroc Keeping Eye On Carclo As It Builds 7% Holding (ALLISS) - Alliance News

The Exchange accepts no responsibility for the content of the website you are now accessing or for any reliance placed by you or any person on the information contained on it.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.

You will be redirected in five seconds.

You are accessing the London Stock Exchange Annual Report Service powered by PrecisionIR.

The Exchange accepts no responsibility for the content of the reports you are now accessing or for any reliance placed by you or any person on the information contained therein.

By allowing this link the Exchange does not intend in any country, directly or indirectly, to solicit business or offer any securities to any person.

You will be redirected in five seconds