Plastics Capital plc (AIM: PLA), the niche plastics products group, is pleased to announce that it currently expects performance for the full year to be in line with market expectations.
Trading conditions since the year ended 31 March have been good with volumes continuing to recover towards the levels seen before the economic crisis. New business gains have contributed significantly to year-on-year growth, and we anticipate new business will continue to be won over the coming months. In addition to volume growth, turnover in the first six months has been boosted as we have passed on higher prices for one or two of the raw materials we use.
All businesses are trading well, experiencing volume recovery and achieving new business wins. Margins meanwhile remain satisfactory and cash flow is strong with debt reducing in line with expectations.
The Group will announce interim results for the six months ended 30 September 2010 in early December 2010.
Commenting, Faisal Rahmatallah, Executive Chairman, said:
“The recovery in the markets we serve has continued and we are winning significant levels of new business. We anticipate this trend to continue throughout the remainder of the financial year, which augurs well for bottom line performance.”