One51 - Full-year 2016 results ahead of forecast; transitioning to a more focused and scalable Plastics business

Davy Research
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Full-year 2016 results were ahead of forecast at the EBITDA and EPS line. The results confirm that 2016 was a year of significant progress, both in terms of execution and growth. In a relatively short timeframe, the group has transformed into a more focused and scalable enterprise with a primary emphasis on the Plastics sector. The planned divestment of the Irish and UK Specialist Environmental Services (SES) businesses will accelerate this transition. One51 continues to see organic and acquisition opportunities that can drive shareholder value. Trading in 2017 to date has been “solid and in line with expectations”.