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Plastics Capital Plc - Trading update

Plastics Capital (LON:PLA) released a trading update on May 2, for the year ending March 31. The company reports that trading remains broadly in line with market expectations. The statement confirms a strong annual revenue growth, reflecting the contribution from the acquired CCM creasing matrix business and also increased organic growth, led by the Films division.
The strong revenue performance reflects a strategy shift undertaken last year to focus more on top-line growth.
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During the last two years Plastics Capital (LON:PLA) has undertaken a significant programme of investments, including £3.4m of capex for new production capacity and £0.7m investment in new capabilities and specific customer projects. The benefits of these investments are evident in the current level of revenue growth, and we believe that profitability will follow suit in FY Mar2019 and going forwards due to operating leverage and more favourable mix.

Full report is available via Capital Network website
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Plastics Capital Plc Timeline

CN Research
March 01 2018

Related Researches

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May 26 2017

Plastics Capital (PLA.LON) has announced a conditional share placing to raise net proceeds of £3.54m, for the purpose of increasing the group’s minority holding in CCM Group and accelerating organic investment within Plastics Capital (PLA.LON).

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December 06 2017

Plastics Capital Plc (LON: PLA) reported interim results (H1 end Sep 2017) on Wednesday 6th. These show positive progress on new business wins, reflected in the H1 organic revenue growth of 13.5%, and an increased pipeline of new business (see chart p2).

At the same time the company guided to a less favourable margin mix for FY Mar 2018, with some projects delayed in the Bearings business, and more of the FY revenue to come from the lower margin Films business.

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July 03 2017

Plastics Capital (PLA.LON) has reported FY results which are closely in line with our expectations (see table below). The company delivered 29.5% revenue growth and 6.5% earnings growth, reflecting M&A and organic improvement, but offset by the cost of fixing operational issues at the Palagan films business and new P&L investments for future growth elsewhere in the business (both issues previously disclosed).

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