Trading Statement

RNS Number : 7654M

Robinson PLC

25 January 2016

 

Robinson plc

YEAR END TRADING STATEMENT

Robinson plc ("Robinson" or "the Group"; stock code: RBN), the custom manufacturer of plastic and paperboard packaging, today issues the following trading statement, prior to the announcement of its final results for the year ended 31 December 2015, which are scheduled to be released on 18 March 2016.

Revenues are anticipated to be £29.1m for the year, which represents a 3.7% increase on last year. Two factors have significantly affected the reported revenues: firstly lower resin prices, which are passed on to our customers, have resulted in lower product prices and secondly, the stronger sterling value in relation to the Polish zloty has reduced the reported value of Polish sales (currently 38% of Group sales).  The two together amount to a revenue reduction of £2.4m whereas underlying Group volumes actually increased by 12% compared to the prior year.

The directors anticipate trading profits for 2015 will be in line with market expectations, including a stronger financial performance at Madrox and as a consequence the earn-out payable to the vendors in 2016 will be increased.

The general economic conditions suggest a challenging year ahead with particular pressure on the major brands and the UK grocery sector.  Nevertheless, with new business being added in the first quarter, the directors expect to deliver revenue and earnings growth.

For more information please contact:

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

Note for Editors:

Headquartered in Chesterfield, with manufacturing facilities in Kirkby-in-Ashfield, Stanton Hill (Nottinghamshire), Warsaw and Lodz (Poland), Robinson currently employs around 310 people. It was formerly a family business, with its origins dating back some 177 years. Today the Group's main activity is the manufacture and sale of injection and blow moulded plastic packaging. Robinson operates primarily within the food, household, drink, confectionery, cosmetic and toiletry sectors, providing niche or custom manufacture to major players in the fast moving consumer goods market, such as Proctor & Gamble, McBride, Sonoco, Bakkavor, Two Sisters and British Pepper & Spice. The Group also has a substantial property portfolio with development potential.

 

END

 

 

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