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Plastics Capital sees growth as Synpac acquisition pays off

Published: 02:33 28 Sep 2016 EDT

Niche plastics
"Organic sales growth is now being achieved broadly across the group."

Plastics Capital Plc (LON: PLA) told investors that trading across the board was in line with market expectations for the year to date as it reaps the benefits from a recent acquisition.

The niche plastics manufacturer said trading during the half-year to March showed improvement compared to last year, which it attributed to organic sales growth in its industrial division and an initial contribution from the recently-acquired Synpac in the film division.

As its largest division, film was trading well and moving into its busiest period. The group said it was adding capacity to progress further in this area.

Previously won projects were starting to ramp up after some initial delays, improving sales at the bearings business.

Its pre-production pipeline remains strong, said the group, as well as products in development.

The weaker pound against the US dollar is expected to boost the industrial division, but the benefit won’t be seen materially until the next financial year.

"Organic sales growth is now being achieved broadly across the group, and is being enhanced by selective acquisitions,” said chairman Faisal Rahmatallah.

“We continue to invest for further growth across the business and anticipate a year of good progress." 

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