Trading Update

RNS Number : 0576F

Plastics Capital PLC

18 April 2011

 



For immediate release                                                                                               18 April 2011

Plastics Capital plc

("Plastics Capital" or the "Group")

Trading Update

Plastics Capital (AIM: PLA), the niche plastics products group, is pleased to announce that it currently expects performance for the full year to 31 March 2011 be in line with market expectations.

Sales concluded the year strongly, profit margins have remained satisfactory, cash flow generation has been strong and debt has continued to reduce in line with our expectations.  The rate of improvement in trading has slowed in the second half of the year as the state of the global economy improved after the recession.  However, new business activity has continued to progress well and the Group is confident that this will continue to drive growth over the medium term.

Commenting, Faisal Rahmatallah, Executive Chairman, said:

"We have seen a strong improvement in trading over the last 12 months.  This is partly a result of the recovery in the global economy, but also because we have been very successful in generating new business.  We are confident that new business successes will sustain solid profit growth for the Group over the next twelve months."

Plastics Capital plc                                                                 Tel: [phone]

Faisal Rahmatallah, Executive Chairman

Nick Ball, Finance Director

Cenkos Securities                                                                  Tel: [phone]

Stephen Keys

Elizabeth Bowman

Buchanan Communications                                                    Tel: [phone]

Richard Darby

Christian Goodbody

Jonathan Rivlin

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, Japan, China and India.  Approximately 62 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 290 employees.

Further information can be found on www.plasticscapital.com

 

END

 

 

TSTLIFIISDIDLIL