Plastics Capital plunges as founder shareholder leaves board
Plastics Capital, which owns a portfolio of small companies making niche plastic products has seen its share price plunge in morning trading after revealing falling profits and revenues and the departure of a founder shareholder from the board.
Plastics Capital, which owns a portfolio of small companies making niche plastic products has seen its share price plunge in morning trading after revealing falling profits and revenues and the departure of a founder shareholder from the board.
The firm has four main subsidiaries: Bell Plastics; BNL; C&T Matrix; and Palagan.
In the 12 months to the end of March, revenues fell 4% to £32m while profit before tax dropped 3% on the prior year to £3.765m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Unfortunately for the firm, which employs over 300 people, the stock price had fallen 17% by 10:42, indicating the market was troubled by something more than a relatively mild drop in revenue.
Plastics Capital argues it has done well to keep the turnover reduction as low as 4%, with its factory in Thailand hit by floods, and the Japanese tsunami reducing demand in a key market.
The Executive Chairman, Faisal Rahmatallah, said the board expected to "make good progress over the next year."
In a separate and very brief announcement, the firm said non-executive director Arun Nagwaney, a founder shareholder of Plastics Capital, had left the board "owing to other business commitments".
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Six investment funds for beginners
Beginner investors can use funds to start building their portfolio, making it easy to access global trends while managing their risk level. Here’s six funds that beginner investors can consider.
-
Farming isn't for the faint-hearted – and isn't profitable
Opinion Farming may look appealing, but turning a profit is extremely hard. No wonder many farmers are attracted to the Sustainable Farming Incentive, says Max King