Carclo – already anticipating ‘limited headroom on its interest cover covenant’, now a contract cancellation!
By Steve Moore | Wednesday 7 December 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
A “Contract Cancellation” announcement from Carclo (CAR), which includes that the contract was “expected to deliver incremental sales of between £10m and £15m annually for the life of the contract with the board's most recent expectation being that production volumes would start building from the last quarter of the current financial year”. So what of a current share price response down approaching 9% at 13p, a £9.5 million market cap?
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