4 July 2016 – final results
The niche plastics products manufacturer has announced its results for the year to 31 March and these have revealed that revenues rose by 28.4% over the year to £50.8m (2015: £39.6m), whilst adjusted pre-tax profits increased 10.6% to £4.06m (2105: £3.73m). Earnings per share were a same again 10.8p due to an increase in the number of shares in issue but the dividend was increased to 4.4p (2015: 4.0p) as a sign of confidence in the future. The strong increases in revenues and profits were driven by acquisitions with the recently acquired Flexipol producing an excellent contribution. There is a healthy pipeline of new business waiting to go into production and exciting new products in the late stages of testing. Trading so far in the current year is in line with expectations and further progress is expected in this financial year. The shares look CHEAP.