Plastics Capital plc (AIM: PLA), the niche plastics products group, is pleased to announce that trading continues to improve and currently expects performance for the full year to 31 March 2010 to be in line with market expectations.
Sales concluded the year strongly and order books are now at significantly higher levels than the average experienced over the last year. Export markets have strengthened, whilst the UK market remains flat. Profit margins continue to be satisfactory, cash flow generation is strong and debt is being reduced in line with expectations. Business development activity has been stepped up in key export markets and the Group is confident that this will result in good growth over the medium term.
Commenting, Faisal Rahmatallah, Executive Chairman, said:
"We have seen a gradual and steady improvement in trading over the last 12 months. Some of this is a result of the global economy improving, but much is because we have been very successful in our new business development activity. We believe these two drivers of growth will take the Group further forward over the next year."