The One51 Group has revealed "significant progress" made in 2015
The One51 Group, which represents a number of plastics companies within one umbrella brand, has revealed “significant progress” and “continued growth” after announcing its final results for 2015.
The results are ahead of expectations, says the Group, with revenue up 32 percent and earnings up 67 percent.
“2015 was a year of significant progress and continued growth for One51 as evidenced in particular by two key events, the Group’s entry into the North American plastics market through the acquisition of IPL Inc. and the receipt of €51.8m from our investment in Altas Investments plc,” commented Alan Walsh, Chief Executive, One51.
“The integration of the IPL business with our OnePlastics Group (“OPG”) remains a key priority and is progressing well. Over the past number of years, One51 has undergone a significant process of change and is now focused on operations in plastics and environmental services spanning three continents. “
Both of these events were part of the Group’s key objectives for 2015, which also saw it successfully integrate Straight plc, acquired in August 2014, with its MGB Plastics business, to create the largest environmental plastic manufacturing business in the UK.
The Group now plans to position itself for further growth, including the listing of shares on one or more stock markets to raise the capital it needs to finance its future development plans.
“There are some significant and exciting opportunities available to the Group and we have the disciplines, management team and strategic focus to further grow shareholder value,” continued Walsh.
“Subject to shareholder approval, any decision to proceed with a listing and capital raising by way of any share placing will be made based on market conditions and the company’s interests and performance at that time.”