Plastics Capital ahead of expectations

AIM-quoted Plastics Capital says that its figures for the year to March 2011 will be ahead of expectations. Trading conditions are improving for the plastic bearings and products manufacturer and volumes are much higher than the same period last year. Raw material prices are rising but this has been managed and margins "remain satisfactory". Seven accounts each worth more than £100,000 in annualised sales have been gained since last September, although the benefits won't come through until 2011-12. The Indian sales business is winning its first contracts. This year could be a record year for new plastic bearing project wins. This comes after a period of delayed and cancelled projects.