LONDON (Alliance News) - Niche plastic products company Plastics Capital PLC on Tuesday said its results for the financial year that ended in March will meet market expectations.
The company said trading in the second half of the financial year was "considerably" ahead of the first half.
Trading improved in Plastics Capital's industrial unit in the second half, helped by progress made in its bearings business, while its Films division continued to add new capacity.
New business wins, Plastics Capital said, have generally offset any hit taken from negative macroeconomic conditions and softer global markets for the financial year.
The company expects good organic growth in coming years, following the launch of new products in the just-ended financial year, and said it will continue to expand capacity in its industrial films, bearings and mandrels units.
"We are pleased to report that trading in the second half of the year was strong after an indifferent first half. The group is currently progressing a number of exciting projects for future growth, including new product introductions, capacity expansions and bolt-on acquisitions and investments," said Executive Chairman Faisal Rahmatallah.
"We anticipate bringing a number of these projects to fruition over the next 12 months, which augurs well for improved sales and profit growth for the group," he added.
Plastics Capital shares were untraded early Tuesday, having last traded at 103.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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