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“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.

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