(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
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.