Synnovia PLC - latested update
Synnovia (LON:SYN) released a trading update on 19 February, confirming that trading in the full year (FY) to 31 March is broadly in line with expectations. We continue to forecast growth in revenue and earnings; however, we are lowering our FY earnings per share (EPS) forecast from 11.9p to 10.4p to reflect a slower increase in profit margins due to operating issues in the Films division.
Plastics Capital is a consolidator of plastics products manufacturers. Co.'s two reportable segments comprise Industrial and Film. Industrial includes hydraulic hose consumables, which comprised of hose mandrels used by the manufacturers of hydraulic and other industrial hoses; plastic rotating parts, which include design and manufacture of plastic bearings assemblies and technical moldings; and packaging consumables, which consist creasing matrix, a consumable product used in the manufacture of cardboard boxes to facilitate creasing prior to folding. Co.'s Films division, which includes plastic sacks and pouches, and film packaging, which is used primarily in industrial and food packaging.
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