Trading Update

RNS Number : 7565T

Plastics Capital PLC

04 October 2010

 



For Immediate Release

October 4 2010

Plastics Capital plc

(the "Company" or the "Group")

Trading Update

Plastics Capital plc (AIM: PLA), the niche plastics products group, is pleased to announce that it currently expects performance for the full year to be in line with market expectations.

Trading conditions since the year ended 31 March have been good with volumes continuing to recover towards the levels seen before the economic crisis.  New business gains have contributed significantly to year-on-year growth, and we anticipate new business will continue to be won over the coming months.  In addition to volume growth, turnover in the first six months has been boosted as we have passed on higher prices for one or two of the raw materials we use.

All businesses are trading well, experiencing volume recovery and achieving new business wins.  Margins meanwhile remain satisfactory and cash flow is strong with debt reducing in line with expectations.

The Group will announce interim results for the six months ended 30 September 2010 in early December 2010.

Commenting, Faisal Rahmatallah, Executive Chairman, said:

"The recovery in the markets we serve has continued and we are winning significant levels of new business.  We anticipate this trend to continue throughout the remainder of the financial year, which augurs well for bottom line performance."

Plastics Capital plc Faisal Rahmatallah, Executive Chairman Nick Ball, Finance Director	Tel: [phone]
Cenkos Securities Stephen Keys Elizabeth Bowman	Tel: [phone]
Buchanan Communications Richard Darby Christian Goodbody	Tel: [phone]

Notes to Editors

Plastics Capital is a consolidator of plastics products manufacturers focused on proprietary products for niche markets.  The Group has four factories in the UK, one in Thailand and sales offices in the USA and Japan.  Approximately 60 per cent of sales are exported to over 80 countries worldwide.  Production is concentrated in the UK where significant engineering know-how and automation underpins the Group's competitiveness.  The Group has approximately 280 employees.

Further information can be found on www.plasticscapital.com

 

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