Trading Update

RNS Number : 3353Z

Plastics Capital PLC

21 September 2009

 



For Immediate Release                                                                                       21 September 2009

Plastics Capital plc

(the 'Company' or the 'Group')

Trading Update

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

Trading conditions are starting to improve with volumes recovering somewhat from the abnormally low level experienced in the first half of the calendar year 2009.  Cost reduction measures taken earlier in the year have all been successfully completed, and our companies are now fully focused on winning new business. Volume improvements are coming primarily from developing markets in Asia Pacific, and to a lesser extent North America.  

All businesses are trading satisfactorily and have excellent potential for profitable growth as the global economy emerges from recession.  Margins meanwhile remain satisfactory and cash flow is strong with debt being serviced in line with expectations.  

Commenting, Faisal Rahmatallah, Executive Chairman, said:

'We are seeing some initial signs of recovery in the markets we serve and should this be sustained, believe that the Group will benefit significantly as volumes increase.'

Plastics Capital plc                                                      Tel: [phone]

Faisal Rahmatallah, Executive Chairman

Nick Ball, Finance Director

Cenkos Securities                                                       Tel: [phone]

Stephen Keys

Beth McKiernan 

Buchanan Communications                                         Tel: [phone]

Richard Darby

Christian Goodbody

Notes to Editors

Plastics Capital successfully floated on AIM on 3 December 2007 and undertook a share for share exchange to acquire Plastics Capital Trading Limited and its subsidiary undertakings on 6 December 2007. 

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 50 per cent of sales are exported to over 70 countries worldwide. Production is concentrated in the UK where significant engineering know-how and automation underpins the Group's competitiveness. The Group has approximately 285 employees. 

Further information can be found on www.plasticscapital.com

 

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