Synnovia PLC

“Better year than it seems” says Plastics Capital CEO

Faisal Rahmatallah chief executive of Plastics Capital (LON:PLA) said the year was better than it seemed, and that despite weakening profits in some areas, the recent acquisition was progressing well.

“Although headline EPS was flat, that conceals a lot of good things that’s going on,” he tells Proactive Investors.

He said the niche plastics maker was busy investing into the future, and investors could expect to see the payoff in the next 12 to 18 months.

“Brexit could affect our UK business, but we’re not too worried as we’re not too exposed to the UK market,” says Rahmatallah.

“What we try to do to manage the uncertainty in the world is we don’t over-commit to one particular area,”

He said investors should look out for further acquisitions, capacity expansion and some new product ideas.

“We will be placing our money in various different investments. We’re thinking of spending in the region of £2mln to £4mln over the next year in around half a dozen to a dozen investment opportunities,” says Rahmatallah.

Quick facts: Synnovia PLC

Price: £0.86

Market: LSE
Market Cap: £33.57 m

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Synnovia PLC reports year of record sales and earnings

Synnovia PLC's (LON:SYN) chairman Faisal Rahmatallah tells Proactive London's Andrew Scott they saw record sales growth in the year to March 2019. He adds that adjusted profits were just above flat as the plastic components and film packaging specialist invested for growth. Revenue...

on 9/7/19

2 min read