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Nov 14 2019, 07:10 GMT
IPL Plastics Inc
Margin focus delivers despite top-line decline
- Sectors : Paper & Packaging
- Companies : IPL Plastics Inc
DAVY VIEW
IPL Plastics (IPLP) delivered Q3 profits ahead of our estimates despite a softer revenue environment. That result highlights the group’s continued focus on margin delivery. While the weaker sales trend means the FY 2019 guidance has been slightly lowered, the 2020 outlook points to better things ahead. That view is backed by a number of significant recent contract wins, especially in the CPS division. Importantly, the group remains equally focused on debt reduction with year-end targets reiterated.
