Proactiveinvestors - Plastics Capital - Trading update
Plastics Capital (LON:PLA) released a trading update on May 2, for the year ending March 31. The company reports that trading remains broadly in line with market expectations. The statement confirms a strong annual revenue growth, reflecting the contribution from the acquired CCM creasing matrix business and also increased organic growth, led by the Films division.
The strong revenue performance reflects a strategy shift undertaken last year to focus more on top-line growth.
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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