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Plastics Capital

  • BY: Andrew Hore |
  • POSTED: 29/04/2009 |

Plastics Capital says that profits will be at least £2m in the year to March 2009. 

This profit figure is after a £1m charge for hedging costs. Revenues will be at least £28m.

Plastics Capital manufactures niche plastic products, such as plastic bearings and film packaging. Volumes have been weak recently, particularly in the plastic bearings business where orders have been cut and deliveries delayed. The film packaging business had held up well during the year but it also suffered in the fourth quarter.

The company continues to cut costs. The weakness of sterling should help the business this year.

Net bank debt is expected to be £19m.

At 26.5p a share, Plastics Capital is valued at £7.12m. 

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