Plastics Capital Plc - Gearing up for Growth
​Plastics Capital 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).
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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