Last week, IPL Plastics, the group formerly known as One51, reported earnings (EBITDA) at $20.5m for the third quarter, which compares to $25.5m for the same period last year.

The company blamed the drop in performance primarily on resin (a key component of plastic) input costs that have been steadily rising in recent months. Revenue rose 7.4% in the three-month period to $169.2m and was driven primarily by continued organic volume growth.