Robinson PLC
14 January 2008
FOR IMMEDIATE RELEASE 14 January 2008
Robinson plc
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 preliminary results for the
year ended 31 December 2007, which are scheduled to be released on 14 March
2008.
Turnover for the Group overall in 2007 decreased by 11%. This was largely
attributable to the previously reported loss of a major long standing customer
of the UK Paperboard business. Turnover from the Plastics division rose by 1%
due mainly to a full-year contribution from the Stanton Hill business, acquired
in May 2006.
Despite the overall increase in plastics sales, revenues from our UK facilities
declined due to the continued transfer of both plant and customers to our
facility in Lodz, Poland. As part of the Group restructuring, action is being
taken to reduce capacity in the UK, which has resulted in 26 redundancies at our
Kirkby factory and write-downs in the value of plant and machinery amounting to
around £0.7m. The financial impact of these actions will be reflected in the
2007 full year results. The resultant improvements to our UK cost structure will
improve efficiency with the objective of enhanced earnings in 2008. Our recently
established Polish facility is expected to continue to show significant
profitable growth.
In the UK Paperboard division, a recently-won 2 year contract to supply gravy
granule packaging to a new company will significantly improve sales in 2008.
This has the potential to go some way to offset the lost major contract in late
2006.
The proposed sale of the surplus property in Chesterfield is progressing with a
revised planning application expected to be submitted early in 2008.
For further information, please contact:
Robinson plc Tel: 01246 220022
Guy Robinson, Finance Director www.r1son.co.uk
Bankside Consultants Tel: 020 7367 8888
Sue Scott/Michael Padley
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.