Carclo in the best of health as its touchscreen technology takes off

TECHNOLOGY GROUP Carclo said its new financial year has started strongly and the trading outlook for this year and beyond is positive.

Shares in the Ossett-based company have shot up recently following the news that sales of XSense, the touchscreen sensors launched by Carclo’s US business partner Atmel, have grown significantly.

Carclo believes that its touchscreen technology can transform the $10bn (£6bn) market for mobile phone and tablet computer touch screens.

The group said that its techni- cal plastics business is performing well and new business development has exceeded its original expectations.

The division has gained a number of new business wins from customers, including Accelerate Diagnostics and Accriva Diagnostics, and said its plans to increase manufacturing capacity are on track.

In LED Technologies, its Wipac supercar lighting business had a positive start to the financial year with three new design wins already placed.

Carclo said this new business means Wipac is well positioned to deliver substantial revenue and profits growth over the next two to three years.

Top of the range luxury cars such as Aston Martin, Bugatti Veyron and Lamborghini all source their LED lighting from Carclo.

The group said its CIT printed electronics business made good progress and it is developing a number of innovative customer programmes.

Carclo is working on the design of a smart asthma inhaler and a Bluetooth enabled enuresis (urinary incontinence) sensor. THE BANK of England will not be pushed into raising interest rates sharply because the outlook for inflation is subdued, a policymaker on the Bank’s rate setting committee said yesterday.

Speaking to BBC Radio, David Miles said that investment spending in Britain had started to increase strongly and he expected that to continue, making for more than a consumer-led recovery.

Miles, regarded as a dove on the Monetary Policy Committee (MPC), noted that inflation is now slightly below the Bank’s 2 per cent target.

“That’s very good news because it means that we’re not going to be pushed into raising interest sharply, because the inflation outlook remains pretty subdued.”

The BoE on Wednesday dented expectations of its first interest rate hike this year, slashing its forecast for wage growth and saying higher borrowing costs hinged largely on an improved outlook for pay.

Miles said Britons were probably getting pay settlements of around 2 per cent on average.