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).
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