KAP Industrial expects oil price slump and Covid-19 to hit profits
The group produces polymers that are used in the production of a variety of plastic products, which has already been under pressure from oversupply
27 March 2020 - 09:58
KAP Industrial, which has automotive, chemicals and logistics businesses, expects profits to fall more than a fifth as it grapples with a collapse in the oil price and the Covid-19 outbreak.
The group said it continued to battle with global oversupply of the plastic used for, among other things, bottled water, with a recent slump in the oil price expected to add further pressure...
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