Plastics Capital poised to meet targets

Aim listed niche plastic products manufacturer Plastics Capital said it currently expects full year results to be in line with market expectations.Sales concluded the year strongly, the group said, while profit margins remained satisfactory. Cash flow generation has been strong and debt has continued to reduce in line with expectations. Executive chairman Faisal Rahmatallah commented, "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." However the rate of improved trading slowed in the second half of the year, Plastics said. Nevertheless new business activity has continued to progress well and the group said it is confident it will maintain solid profit growth over the next twelve months. CJ