Irish plastics manufacturer One51 is now planning to explore the possibility of IPO and stock-market listing in the next period between 12 and 18 months of time.

The proposal also has the approval from the group’s largest shareholder Caisse de dépôt et placement du Québec (CDPQ).

CDPQ acquired 25% of the company’s stake from businessman Dermot Desmond, back in May this year. One51 opines that stock exchange listing is expected to support the company’s future growth.

The company also presented its half year results. The Group revenue increased from €170.6m last year to €225.8m this year, which was a 32.4% increase. On the other hand, earnings before interest, taxes, depreciation and amortisation (EBITDA) increased from €24.7m last year to €32.4m this year, which was a 31.1% increase.

The profits for the period is €14.8m for the half year period and it is a 36.5% increase compared to the profit earned last year for the same period. Its adjusted diluted earnings per share for the period was €7.24 and last year it stood at €5.58.

One51’s Group CEO Alan Walsh said: “Given the significant progress in the business, the Board has recommenced exploring a possible IPO. As well as delivering very strong results for the first half of the year we have successfully integrated the Encore acquisition into our IPL division.

“The IPL business in both the US and Canadian markets continues to perform ahead of expectations and in Europe UK earnings were in line with expectations despite being adversely affected by the fall in the value of sterling.

“We are excited by the prospects for the Group following the recent acquisition of Macro, which provides three new locations as well as access to the US West Coast. The Group is currently investing heavily in expanding its production facilities in both the US and Canada in response to the very strong organic growth in those locations.”

In May, One51 acquired American plastics manufacturing company Marco Plastics for $150m. Marco Plastics manufactures rigid packaging solutions for the agricultural and automotive sectors. With Marco’s acquisition One51 now has access to three manufacturing facilities in the US states of Kentucky, Washington State and California.