4th Feb 2014 11:44
LONDON (Alliance News) - Plastics Capital PLC Tuesday said trading in the third quarter has continued in a similar pattern to the first-half of the year, with strong sales of mandrels and improving sales of creasing matrics and films recorded.
The niche plastics products group said demand for bearings has been relatively weak, predominantly as a result of some new product development slippage from its customers.
Margins and cash generated from operations remain strong and are similar to last year, the firm added.
As previously announced, completion of the acquisition of Shengli Printing Science and Technology Co, Ltd has been delayed for approximately two months.
However, Plastics Capital said good progress has recently been made in satisfying the various conditions of the local Commission of Commerce.
With supplementary information having recently been provided, the firm is currently on track to complete the acquisition on or before February 28.
The stock was trading at 131.70 pence Tuesday morning, down 3.30 pence or 2.4%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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