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RPC Group reports revenue well ahead of last year

May 16/2012

(plasteurope) -- Europe's leading supplier of rigid plastic packaging RPC Group  presented a very positive picture of performance in its recent pre-close trading statement for the financial year to 31 March 2012.

Turnover is expected to be well ahead of last year due to the inclusion of the Superfos business, acquired in February 2011  and higher like-for-like revenues. Volumes have been similar to the previous year, despite the continuing trend towards light-weighting, but the sales mix improved significantly towards higher added-value products, such as coffee capsules, long shelf-life packaging and personal care and pharmaceutical products.

Margins were impacted in Q4 last year as polymer prices rose by up to 20%, increases that RPC only plans to pass on in the coming quarters. Operating profit for the year, excluding exceptional items, will be well ahead of the previous 12 months, RPC said, reflecting the improved revenue position as well as expectations based on the group's half-year performance.

This will be in line with management expectations that will surely have been based on the half-year performance that saw overall revenue increase by over 50% and operating profits doubled. RPC says there was good cash flow development in the fourth quarter and the financial position remains robust, with significant headroom under the groups debt facilities.
Author:Anna Larionova
Tags:PET, packaging.
Category:General News
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