News blog
Plastics Capital
- BY: Andrew Hore |
- POSTED: 17/01/2012 |
- COMMENTS: Add yours
Plastic components manufacturer Plastics Capital traded in line with expectations in third quarter.
New business is offsetting weakening demand from some existing customers. The Japanese Tsunami and floods in Thailand have disrupted the supply chain. Things should return to normal in the fourth quarter.
House broker Cenkos forecasts flat profit of £3.9m for the year to March 2012. Lower margins will be offset by a fall interest charges. Forecast revenues have been shaved by £500,000 to £32m. Net debt of £9.6m is forecast for the end of March 2012 and £6.7m for March 2013. A dividend of 1p a share has been forecast for this financial year.
At 68.5p a share, Plastics Capital is valued at £18.9m. The shares are trading on less than seven times prospective 2011-12 earnings.
F&C has edged its stake above 5%.
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