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.”