Trade Resources Company News The Manufacturer of Specialist Foils and Packaging Materials Released Its Results Today

The Manufacturer of Specialist Foils and Packaging Materials Released Its Results Today

The manufacturer of specialist foils and packaging materials released its results today (4 October).

API said that the board’s most recent guidance, provided at the time of its AGM on 11 July 2013, remains unchanged overall.

‘Good progress’

The group said that API Laminates has made good progress in relation to the new supply contract and continuation of current off-take levels underpins the outlook for the second half.

Major operational improvement projects are close to completion at Foils Americas and Foils Europe; albeit at the expense of some business disruption during the transition phase, API said.

Increased operational effectiveness and lower costs, combined with robust levels of demand are expected to benefit results going forward.

Czech Republic

In a statement, API said: “Holographics has shown little improvement on the trading performance experienced in the second half of last year, with a recovery in sales to other group companies offset by reduced activity with external customers.

“Nevertheless, longer term prospects have been enhanced by new equipment successfully brought on stream to extend the product offering to the security sector and good progress has been made in establishing a new holographic origination centre in the Czech Republic as a platform for innovation in optical technologies.”

The group is close to finalising new long term credit facilities for the UK businesses, ahead of the scheduled expiry of current arrangements. API said that further details will be provided at the interim results stage.

Source: http://www.packagingnews.co.uk/news/api-predicts-fy-progress/
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API Predicts FY Progress