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Plastics Capital

  • BY: Andrew Hore |
  • POSTED: 21/02/2011 |

Plastic bearings and products manufacturer Plastics Capital says that its figures for the year to March 2011 will be ahead of expectations.

Trading conditions are improving and volumes are much higher than the same period last year. Raw material prices are rising but this has been managed and margins “remain satisfactory”.

House broker Cenkos has increased its 2010-11 profit forecast from £3.3m to £3.6m, after raising annual revenues by £2m to £32m.

Seven accounts each worth more than £100,000 in annualised sales have been gained since last September, although the benefits won’t come through until 2011-12. The Indian sales business is winning its first contracts.

This year could be a record year for new plastic bearing project wins. This comes after a period of delayed and cancelled projects.

At 84.5p a share, up 8p, Plastics Capital is valued at £23.3m. The shares are trading on less than nine times estimated 2010-11 earnings.

Download the February edition of AIM Journal at http://www.hubinvest.com/AIMPDFFebruary2011_17.pdf

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