AGM Trading Statement

RNS Number : 2877X

Robinson PLC

05 May 2016

 

5 May 2016

Robinson plc

AGM TRADING STATEMENT

At the Annual General Meeting to be held at 11.30am today, the Chairman of Robinson plc, Richard Clothier, will make the following statement.

"In the first quarter of 2016, revenues were 10% down on the previous year of which 4% was due to lower resin prices. The lower volumes were mainly as result of lower demand for our customers' products in the market which is a continuation of the trend in the second half of 2015. Resin prices are increasing which will reduce margins in the short term before prices are adjusted. Previously reported new business gains have come on stream slower than expected and will benefit the second half. Furthermore, the build-up of additional new contracts commencing in the latter part of the year is very encouraging.

The final payment for the acquisition of the Madrox business in Warsaw has been agreed at £4.3m in line with the 2015 financial statements and will be settled during May 2016.

A planning application has been submitted to redevelop 24 acres of land previously used in our former healthcare business in Chesterfield. It is anticipated that the application will be determined in the summer, which would allow for negotiations to take place with prospective developers during the second half of 2016."

For further information, please contact:

Robinson plc	www.robinsonpackaging.com
Guy Robinson, Finance Director	Tel: [phone]
finnCap Limited
Ed Frisby / Giles Rolls, corporate finance Stephen Norcross / Alice Lane, corporate broking	Tel: [phone]

Robinson plc, Chesterfield, S40 2AB, UK. Registered number 39811 (England)       AIM code "RBN"

 

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