logo-loader
viewSynnovia PLC

Plastics Capital PLC - Organic growth Accelerates

Plastics Capital PLC (LON:PLA) has reported a strong set of results for the financial year ended March 2018. Revenues of £76.7mln and earnings per share (EPS) of 9.5p are both slightly ahead of our forecast, which was last updated at the time of the detailed Plastics Capital trading update on May 2.

The most important headline metric, in our view, is the organic (like-for-like) revenue growth of 13.0%, which reflects a strategy shift undertaken last year to focus more on top-line growth.

Executive summary

During the last two years, Plastics Capital has undertaken a significant programme of investments - £4.1mln in FY Mar2018, including £1.8mln of investment in new capacity. The benefits are evident in the FY Mar2018 revenue growth, and we believe that earnings will begin to follow from FY Mar2019 onwards. We believe that the current valuation at a Mar2019 price/earnings ratio of 9.3x represents an interesting entry point in light of these growth dynamics.

Quick facts: Synnovia PLC

Price: - -

LSE:SYN
Market: LSE
Market Cap: -
Follow

What's in the report?

Financial results and forecasts
Growth drivers
Management
Market conditions
Milestones & inflection points

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

LEGAL NOTICE – IMPORTANT – PLEASE READ:

Proactive Research is a trading name of Proactive Investors Limited which is regulated and authorised by the Financial Conduct Authority (FCA) under firm registration...

FOR OUR FULL DISCLAIMER CLICK HERE

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

Watch

Redx Pharma PLC's Lisa Anson updates on lead asset RXC004 and increased...

Redx Pharma PLC's (LON:REDX) Lisa Anson recaps on its lead product RXC004 which is in a Phase I clinical trial and is part of a potentially breakthrough group of cancer drugs called Porcupine inhibitors. Anson also details the recent investment by its majority shareholder Redmile which has...

5 hours, 26 minutes ago

3 min read