Final Results

Robinson PLC
24 March 2006

FOR IMMEDIATE RELEASE                                             24 March 2006

                                  Robinson plc

            PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 2005

Robinson plc ('Robinson' or 'the Group'; stock code: RBN), the custom
manufacturer of paperboard and plastic packaging based in Chesterfield, has
announced its audited results for the year ended 31 December 2005.


Highlights:

   •Sales grew by 3% to £26.65m (2004: £25.95m)
   •Operating profit improved to £0.52m (2004: £0.03m)
   •Significant investment in fixed assets, including the £1.71m purchase of
    a manufacturing facility in Poland
   •The Group's pension fund remains in surplus and has benefited from
    exposure to the equity markets during the year
   •The adoption of new accounting standards has resulted in adjustments to
    prior year figures of which the largest impact is the inclusion in the
    balance sheet of the pension fund surplus
   •The Board will be recommending a final dividend for the year of 1.75p per
    share (2004 final: 1p). This would represent an 8% increase in the total
    dividend payout in comparison to last year (2005: 3.25p; 2004: 3.00p)

Commenting on the results, Chairman, Richard Clothier stated:

'In competitive markets with escalating resin and energy prices, it is highly
creditable that the Group maintained its gross margins year-on-year. The
establishment of our Polish manufacturing facility, key to Robinson's
longer-term growth prospects, is progressing on schedule and will begin to
contribute in the coming year. Elsewhere, we are continuing to invest in plant
and machinery and to encourage innovation to ensure that the Group maintains its
competitive edge. Overall, we expect to make further progress in 2006.'


About Robinson

Based in Chesterfield, and with additional manufacturing facilities in
Kirkby-in-Ashfield, Nottinghamshire, in Toronto, Canada, and in Lodz, Poland,
Robinson currently employs over 400 people. It was formerly a family business,
with its origins dating back some 165 years. Today the Company's main activities
are in the manufacture and sale of rigid paper packaging and injection moulded
plastic packaging. Robinson operates primarily within the food, drink,
confectionery, cosmetic and toiletry sectors, providing niche or custom
manufacture to major players in the fast moving consumer goods market, such as
Nestle, Lever Faberge and Whyte & Mackay. The Company also has a substantial
property portfolio with significant development potential.


For further information, please contact:

Jon Marx, Chief Executive, Robinson plc                            01246 220022
Guy Robinson, Finance Director, Robinson plc                       01246 220022
                                                                www.r1son.co.uk
Sue Scott/Michael Padley, Bankside Consultants                    020 7367 8888


                              CHAIRMAN'S STATEMENT

Sales

Total sales of £26.65m were 3% higher than in the previous year (2004: £25.95m).
The growth was attributable to the performance of the plastics business which
offset a decline in sales within the UK paperboard business.

Paperboard revenues fell due to lower sales to the Toiletries & Cosmetics sector
in the UK whilst the North American business benefited for a second year growth
in packaging for tooth whitening strips. This business has now been lost to a
cheaper packaging format. The launch of our innovative paperboard COOL-AIR
tube during the year has generated promising sales in the drinks sector.

Profitability

Our gross margin remained at 15.5% reflecting improved productivity at all
operations and our ability to largely pass on the significant increases in
plastic polymer prices and energy costs.

The operating profit before exceptional items improved modestly to £0.53m (2004:
£0.46m). Exceptional items included the £0.27m costs of setting up the Polish
manufacturing facility which was offset by a £0.30m reversal of impairment of
value of a surplus paperboard line that was subsequently sold. The operating
profit after exceptional items was £0.52m (2004: £0.03m)

Interest payable in 2005 was £0.04m (2004: £0.15m interest receivable),
reflecting increased investment in fixed assets (including Poland) in the
period.

Other financial income in respect of the Pension Fund (FRS17) produced a gain of
£0.87 million compared with £1.04m in 2004; the reduction was due to lower
projected returns on assets and higher interest on scheme liabilities.

The profit before taxation was £1.35m (2004: £1.45m).

Cash & Finances

Our balance sheet remains robust with year end net debt of £2.35m (2004: net
cash - £1.82m) substantially covered by surplus property values. Capital
expenditure of £4.12m was well above the annual depreciation figure of £1.70m,
as we continued to invest in new plant and equipment. The main investments were
in the new plastics plant in Poland (£1.71m) and a new paperboard box line in
Chesterfield. We also paid £0.82m into an escrow account in respect of company
pension contributions, of which £0.62m was provided at the end of 2004. Working
capital levels increased partly as a result of the higher input prices and
partly because debtors were low the previous year. The net cash inflow from
operations during the year amounted to £0.40m.

Dividends

The Board will be recommending a final dividend for the year of 1.75p per share
(2004 final: 1p) which will be paid on 9 June 2006 to shareholders on the
register at the close of business on 12 May 2006.

Pension Fund

Our pension fund remains in a healthy position. We closed the final salary
(defined benefit) section to new entrants in 1997 and since then have been
operating a money purchase (defined contribution) scheme. With the sales of
businesses that have taken place over the past 15 years and the rationalisation
of the workforce, the fund is very mature. The latest actuarial valuation at 5
April 2005 indicated a surplus of 8%. We have adopted the new accounting
standard (FRS17). The fund has assets with a market value of £52m and
liabilities of £45m giving a surplus after tax of £5m at the end of 2005. The
present value of scheme liabilities has increased by a further £4m during the
year, much of which is due to the increased mortality rates used.

Property

We continue to seek planning permission for residential redevelopment on the
previous Robinson Healthcare site at Walton. We are in discussion with
prospective purchasers for the sale of this site and the Wheatbridge site and
hope to conclude the sales during 2006.

The property acquired in Poland extends to 2.3 hectares with factory/warehouse
space of 10,000 m2 and office space of 2,000 m2. Approximately 50% of this space
is currently let out to external tenants, yielding an income of around £0.1m per
annum. The property is held on a long lease (87 years) and cost £1.3m. We will
spend a further £0.5m in renovating the property to bring it up to modern food
packaging standards. Located in Lodz, in the centre of Poland, the property is
close to the proposed new North-South/East-West motorway intersection. As we
expand our business in Poland, it is our intention to further renovate the
property and displace the external tenants.

Acquisitions

We continue to seek acquisitions of packaging businesses at the right price that
we feel have appropriate synergies and long term prospects for inclusion within
the Group.

Outlook

Our aim remains to develop the business both through organic growth and
acquisition. Our focus on product development and innovation remains a priority.
Raw material costs remain at very high levels and have eased only slightly going
in to 2006. Energy prices are still increasing at rates much higher than the
general inflation level and we expect electricity costs to rise further in 2006.
Sales are currently tracking in line with expectations. It is anticipated that
the business in Poland will make a modest contribution in the current financial
year and, overall, we expect to make further progress in 2006.


Richard Clothier                                                  24 March 2006
Chairman
Robinson plc





GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2005

                                                  Notes      2005         2004
                                                                      (restated)
                                                            £'000        £'000

Turnover                                                   26,648       25,949
Cost of sales                                             (22,512)     (21,919)
                                                           ------       ------
Gross Profit                                                4,136        4,030

Overheads, excluding exceptional items                     (3,608)      (3,571)
Exceptional items                                              (9)        (430)
                                                           -------      -------
Total Overheads                                            (3,617)      (4,001)

Operating Profit                                              519           29
Profit on disposal of land and buildings                        -          236
                                                              ---          ---
Profit on ordinary activities before interest                 519          265
Interest (payable)/received                                   (40)         146
Other finance income in respect of Pension Fund               870        1,040
                                                            -----        -----
Profit on ordinary activities before taxation               1,349        1,451
Taxation                                             2       (320)        (532)
                                                            -----        -----
Profit on ordinary activities after taxation                1,029          919
                                                            =====        =====
Earnings per ordinary 0.5p share
Basic and diluted (p)                                4        6.5          5.3



All amounts relate to continuing operations

The accounting policies and notes form an integral part of the financial
statements


STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
FOR THE YEAR ENDED 31 DECEMBER 2005

                                                     Notes    2005        2004
                                                                     (restated)
                                                             £'000       £'000

Profit for the financial year                                1,029         919
Actuarial gain/(loss) in respect of the Pension Fund
net                                                            297      (1,623)
of deferred tax
Currency translation differences on foreign currency
net investments                                                 82         (25)
                                                             -----        ----
Total gains/(losses) recognised since last annual            1,408        (729)
report                                                                    ====

Prior year adjustments                                  5    4,219

Total gains and losses since the last financial              -----
statements                                                   5,627
                                                             =====


GROUP BALANCE SHEET
AS AT 31 DECEMBER 2005

                                                Notes      2005           2004
                                                                     (restated)
                                                          £'000          £'000

Fixed assets

Tangible fixed assets                                    17,440         15,001
                                                         ------         ------
                                                         17,440         15,001



Current assets

Stocks                                                    1,997          1,640
Debtors                                                   7,246          5,437
Current asset investments                                     -          1,002
Cash                                                         28            813
                                                          -----          -----
                                                          9,271          8,892

Creditors: amounts falling due within one year           (8,588)        (5,412)
                                                          ------         -----
Net current assets                                          683          3,480

Total assets less current liabilities                    18,123         18,481
Provisions for liabilities                                 (607)          (614)
                                                         ------         ------
Net assets excluding pension asset                       17,516         17,867
Pension asset (net of deferred tax)                       4,705          3,318
                                                         ------         ------
Net assets including pension asset                       22,221         21,185
                                                         ======         ======


Capital and reserves

Called up share capital                                      80             80
Share premium account                                       398            398
Capital redemption reserve                                  216            216
Revaluation reserve                                       5,136          5,138
Profit and loss account                                  16,391         15,353
                                                         ------         ------
Equity Shareholders' Funds                          6    22,221         21,185
                                                         ======         ======



GROUP CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2005

                                                       Notes     2005     2004
                                                                     (restated)
                                                                £'000    £'000

Cash inflow from operating activities

Operating profit                                                 519        29
Depreciation charges and write-down of fixed assets            1,705     1,795
Reversal of impairment of fixed assets                          (296)        -
(Profit)/loss on sale of other tangible fixed assets              (5)      100
Increase in stocks                                              (357)      (36)
(Increase)/decrease in debtors                                (1,732)      448
Increase/(decrease) in creditors                                 928      (190)
Decrease in provisions                                            (7)      (40)
Non-cash items:
 - Increase in net pension asset charged to operating profit     400        400
 - Cost of share options                                          65         23
 - Transfer to pension escrow account                           (822)         -
                                                                 ---      -----
Net cash inflow from operating activities                        398      2,529
                                                                 ===      =====
Returns on investments and servicing of finance
Interest received                                                 24        194
Interest paid                                                    (62)        (5)

Net cash (outflow)/inflow from returns on investments and        ---        ---
servicing of finance                                             (38)       189
                                                                 ===        ===
Taxation
UK corporation tax (paid)/received                              (229)         3
                                                                   
Capital expenditure and financial investment
Acquisition of tangible fixed assets                           (4,119)   (1,596)
Sale of surplus properties                                          -       686
Sales of other tangible fixed assets                              315        60
                                                                ------   ------
Net cash outflow from capital expenditure and financial
investment                                                     (3,804)    (850)

Equity dividends paid                                            (488)    (368)

Net cash (outflow)/inflow before use of liquid resources and
financing                                                      (4,161)    1,503

Management of liquid resources
Decrease in short-term cash deposits with UK banks               1,002    7,580
                                                                ------    -----
Net cash inflow from management of liquid resources              1,002    7,580
Financing

Repurchase of share capital                                          -   (8,997)
                                                                 ------  ------
Net cash outflow from financing                                      -   (8,997)


(Decrease)/increase in cash                                  7  (3,159)      86
                                                                 ======    ====
Analysis of changes in cash during the year

Balance at 31 December                                           (2,346)    813
Balance at 1 January                                                813     727
                                                                 ------    ----
Net cash (outflow)/inflow                                        (3,159)     86
                                                                 =======   ====




Notes to the financial statements

1.      Basis of preparation

The accounts have been prepared under the historic cost convention as modified
by the revaluation of freehold land and buildings.

The Group's accounting policies have been applied on a consistent basis with the
exception of the following, where comparative figures have been restated
accordingly:


a.      The requirements of FRS17 on retirement benefits have been adopted in
the primary statements

b.      The cost of share options has been recognised in the profit and loss
account in accordance with FRS20

c.       Dividends are now recognised when paid in accordance with FRS21


2.      Taxation
                                                         2005             2004
                                                                     (restated)
                                                        £'000            £'000

Current tax:
UK corporation tax @ 30% (2004: 30%)                      122              178
Adjustments in respect of prior periods                   (77)               5
Overseas tax                                                6                8
                                                          ----             ---
Total current tax                                          51              191

Deferred tax:
UK tax @ 30%                                              367              267
Adjustments in respect of prior periods                   (98)              74
                                                          ---              ---
Total deferred tax                                        269              341
                                                          ---              ---
                                                          320              532


3.      Dividends

                                                            2005          2004
                                                                     (restated)
                                                           £'000         £'000

Ordinary : second interim paid in respect of 2004            139           228
: final paid in respect of 2004                              140             -
: interim paid                                               209           140
                                                             ---           ---
                                                             488           368
                                                             ===           ===

It will be proposed at the Annual General Meeting that a final dividend of 1.75p
per ordinary share be paid.


4.      Earnings per Share

The calculation of basic and diluted earnings per ordinary share is based on
profit on ordinary activities after taxation (£1,003,000) divided by the
weighted average number of shares in issue (15,918,501).


5.      Prior year adjustments

The Group has implemented FRS17, 'Retirement Benefits', during the year. This
has resulted in a prior year adjustment of £4,595,000 in respect of periods
prior to 31 December 2003 to recognise the asset as required by this accounting
standard. As a result the previous balance recorded in creditors of £282,000
under SSAP24 has been written back. The total effect of these adjustments is an
increase of £4,877,000 in reserves brought forward at 1 January 2004.

The comparative figures for the year ended 31 December 2005 have been restated
to reflect changes in the provision required under FRS17, resulting in an
increase in profit of £553,000 for that period. In addition £1,623,000 of
actuarial losses have also been recognised through reserves.

The adoption of FRS21, 'Post balance sheet events' has resulted in a prior year
adjustment for the company in respect of the treatment of dividends.
Shareholders' funds at 1 January 2004 have been increased by £228,000. For the
year ended 31 December 2004 the change in accounting policy has resulted in a
net increase in retained profit of £49,000. The balance sheet at 31 December
2004 has been restated to reflect the de-recognition of a liability for proposed
equity dividends of £279,000. For the year ended 31 December 2004, the change in
accounting policy has resulted in a net decrease in retained profit for the year
of £279,000.

The adoption of FRS20 has resulted in a prior year adjustment of £23,000 for the
company in respect of the cost of share options. The profit for the year has
been reduced but there has been a corresponding transfer to reserves with no net
effect on total revenue reserves.


5.      Reconciliation of movements in shareholders' funds

                                                              2005        2004
                                                             £'000       £'000
                                                                     (restated)
Group

Profit after taxation for the financial year                 1,029         919
Dividends                                                     (488)       (368)
                                                             -----        ----
                                                               541         551
Actuarial gain                                                 297           -
Exchange difference on translation                             133           1
Recognition of share based payments                             65           -
Purchase of own shares                                           -      (8,997)
                                                             -----      ------
Net (reduction in)/addition to shareholders' funds           1,036      (8,445)

Shareholders' funds at 1 January (originally £16,967
before                                                      21,185      29,630
adding prior year adjustments of £4,219,000)
                                                            ------      ------
Shareholders' funds at 31 December                          22,221      21,185
                                                            ======      ======


6.      Analysis of net funds/(debt)

                                               At 1 Jan       Cash   At 31 Dec
                                                   2005       Flow        2005
                                                  £'000      £'000       £'000
Cash in hand and deposits repayable on demand       813       (785)         28
Bank overdraft                                        -     (2,374)     (2,374)
                                                  -----     ------      ------
Cash and cash equivalents                           813     (3,159)     (2,346)
Short term deposits with UK banks                 1,002     (1,002)          -
                                                  -----     ------      ------
                                                  1,815     (4,161)     (2,346)


7.      Publication of non-statutory accounts


The financial information set out in this preliminary announcement does not
constitute statutory accounts as defined in section 240 of the Companies Act
1985.

The summarised balance sheet at 31 December 2005 and the summarised profit and
loss account, summarised cash flow statement and associated notes for the year
then ended have been extracted from the Group's 2005 statutory financial
statements upon which the auditors opinion is unqualified and does not include
any statement under Section 237 of the Companies Act 1985.

The accounts for the year ended 31 December 2005 are expected to be posted to
shareholders in due course and will be delivered to the Registrar of Companies
after they have been laid before the company at the annual general meeting on 4
May 2006. Copies will also be available from Robinson plc's Registered office:
Bradbury House, Goytside Road, Chesterfield, S40 2PH.


ENDS












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