Plastics Capital, the niche industrial plastic product manufacturer, announced in a trading update that it expects its performance for its fiscal year to March 2011 to exceed market expectations. The company’s broker has since raised its revenue forecast from £30 million to £32 million and EBITDA to £5.4 million from £5.6 million. The company’s trading is continuing to improve, and volumes are expected to recover to near pre-financial crisis levels. Raw material prices have continued to rise, but Plastics Capital has been able to pass most of these costs on to their customers.
Business development is going well, with seven new accounts with expected annual revenues of £100,000 having been signed up since September 30th 2010. Asian performance has been especially promising with the Mumbai sales office recently achieving its first sales to local customers (the Chinese office recently won its first indigenous customers as well – as announced a few weeks ago).
Filed Under: Plastic, Industrial Production, Industrial Suppliers, Chemicals, Industrials, Packaging,
Disclaimer:
This note was prepared by LCF Research Limited using information provided by the subject company’s management or publically available news sources. No representations are made nor warranties given (express or implied) in relation to accuracy and completeness. This document is not an invitation to invest in the subject company and does not purport to contain all the necessary information that a prospective investor might require. LCF Research Limited recommends prospective investors to conduct their own thorough independent analysis of the subject company and the information contained in this note or referred to above.
Plastics Capital plc is a holding company. It is engaged in the manufacture of plastic products focused on products for niche markets. The Company has four factories in the United Kingdom, one in Thailand and sales offices in the United States, Japan, China and India. It operates in two segments: Packaging, which includes packaging consumables and high strength film packaging, and Industrial Products, which includes hydraulic hose consumables and plastic rotating parts. The Company's businesses include Bell Plastics Limited, BNL (UK) Limited, C&T Matrix and Palagan Limited (Palagan). Bell Plastics Limited manufactures hydraulic hose consumables and BNL (UK) Limited manufactures Plastic rotating parts. C& T Matrix manufactures packaging consumables, and Palagan manufactures high strength film packaging. The Company exports 60% of its sales to over 80 countries worldwide. more »
