Plastics Capital plc announced that it expects performance for the full year to March 31, 2015 to be broadly in line with market expectations. Whilst trading in the second half of the year was at the lower end of its expectations, the results showed a considerable improvement on the first half trading performance. Trading in the second half of the year was considerably ahead of the first half year in terms of both revenue and profits.

This strong performance was a result of strong growth at Flexipol, which was acquired in November 2014, and an encouraging recovery in sales and profitability of the bearings business, BNL. Operating margins benefitted from lower raw material prices that prevailed throughout the second half of the financial year and the cost reduction programmes implemented across the bearings business.