21 February 2011 – trading update

The niche plastics products group has announced that it expects performance for the full year to be ahead of market expectations. Since 30 September 2010 trading conditions have continued to improve and volumes are up significantly year-on-year. The Indian sales subsidiary has won its first orders for creasing matrix from local Indian customers and prospects for plastic ball bearings in India are described as excellent. Seven key accounts, each with expected annual sales exceeding £100k, have been won since 30 September 2010. New project wins in the plastic ball bearings business have gathered pace and the pipeline for new projects is continuing to strengthen. The future continues to look very positive and we retain our BUY rating.