Profits fall at Leicester plastics giant

Leicester manufacturer Oadby Plastics has seen turnover rise but profits fall for the year ending 31 December 2016.

The firm, which manufacturers and distributes industrial plastics saw turnover rise from £29.7m in 2015 to £31.6m this year. Meanwhile, profits for the year, after tax, dropped from £3.13m in 2015 to £2.58.

Oadby Plastics increased its workforce from 186 to 207 last year, with the biggest rise coming in production staff. Directors’ pay also increased from £314,944 to £323,932.

In its annual accounts, the firm says the results are “in line with the directors’ expectations”.