Plastics Capital records double-digit first-half sales growth

5th Oct 2018 10:01

(Sharecast News) - Niche plastics outfit Plastics Capital told investors on Friday that it had continued to trade in line with market expectations across the first six months of its trading year.In the six months ended 30 September, sales grow at double-digit rates, with profitability boosted as the revenue mix shifted towards its higher-margin industrial division.Plastics Capital also said currency had been "helpful", as the benefit of the sterling's post-Brexit referendum weakness was now being felt with forward contracts taken out prior to that time being settled and replaced.Besides the strong performance from its industrials division, the AIM-listed revealed its films unit had also continued to perform well and derive "the best from the combination of the three businesses that we have brought together".Chairman Faisal Rahmatallah, said: "Significant organic growth is being achieved across both our Divisions. Except for our mandrels business, the order books are healthy. We continue to add capacity to fulfil this demand and to enable future growth thereafter.""We have made a good start to the year and anticipate a year of further good progress."As of 1000 BST, Plastics Capital shares had picked up 1.80% to 113p.