Growth in sales and underlying profit resumed at specialist plastics supplier Plastics Capital (PLA) during the first half. Demand from Europe has been better and the company is winning far more business than it is losing. Paying £2.2m for cardboard creasing group Shengli gives valuable exposure to the lucrative Chinese market, too.
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Half-year sales rose 4 per cent to £16.4m and, if you strip out last year's big foreign exchange gain, underlying pre-tax profit grew 4.4 per cent. It was up 18 per cent on the second half of last year. Analysts at First Columbus Investments expect full-year adjusted pre-tax profit of £4m, giving adjusted EPS of 11.8p (from £3.3m/10p in 2013).
