Acal plc (ACL) reassuring update will hopefully offer support
The supplier of customised electronics which is moving to higher margin design and manufacturing activity offered a reassuring trading update for the six months ended 30 September 2015. The shares have tumbled 20% over the past few months probably on fears of its exposure to oil and gas markets through the recently acquired Norwegian businesses. Hopefully today’s update will reassure.
Acal designs, manufactures and distributes customer-specific electronic products and solutions to 25,000 industrial manufacturers. It operates through two divisions: Custom Distribution and Design & Manufacturing. The majority of its sales comes from products and solutions which are either created uniquely for a customer or sourced exclusively. Acal works across a range of technologies, namely Communications & Sensors, Electromechanical, Imaging & Photonics, Embedded Computers & Displays, and Power & Magnetics. Group reported sales for the period to 30th Sept 2015 increased 18% and by 30% at constant exchange rates with the difference reflecting the significant translational impact of Sterling strength during…