Acal (ACL) – encouraging results as the Group progresses up the value chain
The supplier of customised electronics to industry has announced very encouraging interim results for the six months ending 30 September 2015.We like the way this business is moving up the value chain; look out for more acquisition activity over the coming months.
Acal designs, manufactures and distributes customer-specific electronic products and solutions to 25,000 industrial manufacturers through two divisions: Design & Manufacturing and Custom Distribution. The majority of its sales come from products and solutions which are created uniquely for a customer and the Group works across a range of technologies, including Power & Magnetics, Communications & Sensors, Electromechanical, Imaging & Photonics, Embedded Computers & Displays. The strategy since 2009 has been to move up the value chain, shedding the lower margin activity and operating margins have doubled in the past five years with 75% of profit contribution now generated from the…