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Plastics Capital plc (AIM: PLA) – reassuring trading update

17/01/2012 · Plastics Capital (IPO) 

A reassuring trading update from the niche plastics products group who confirmed that trading was broadly in line with market expectations – year ending 31st March consensus estimates are for normalised pre-tax profit of £3.94m and earnings per share of 10.56p.

Management commented that trading conditions remain challenging although new business is helping to offset a general softening in demand.

The Group’s bearings division (BNL) recently converted a major design project for a bathroom products company to manufacture plastic bearing devices for a new customer based in the USA.  The project is expected to be worth over £2m with sales expected to commence in 2013.

It’s pleasing to note that cash flow continues to be…

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