Trading Statement

RNS Number : 4346Y

Robinson PLC

22 December 2010

 



22 December 2010

FOR IMMEDIATE RELEASE

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 2010, which are scheduled to be released on 25 March 2011.

Revenues are expected to have grown by 13% compared to the previous year, which more than reverses the 8% fall seen last year. Revenues in the second half are expected to be 8% higher than in the corresponding period in 2009. The increased revenues are partly due to higher selling prices resulting from increased raw material costs. Underlying volumes in 2010 are expected to be 6% higher than in the previous year. The increased revenues arise in both the paperboard and plastics operations and the Board anticipates continued growth in 2011.

The North American paperboard business, which has been loss making in recent years and represented 6% of Group revenues in 2009, continues to suffer from exposure to the US market and adverse exchange rates. After conducting a review of its available options, the Board has decided to place this business into administration with immediate effect and will include any costs of closure, which are not expected to be significant, in the 2010 results. 

About Robinson

Based in Chesterfield, with additional manufacturing facilities in Kirkby-in-Ashfield, Stanton Hill (Nottinghamshire) and Lodz (Poland). Robinson currently employs around 350 people. It was formerly a family business, with its origins dating back some 165 years. Today the Group's main activities are in the manufacture and sale of injection moulded plastic and rigid paperboard 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 Proctor & Gamble, Nestlé, Kraft, United Biscuits, Northern Foods, Masterfoods, Bakkavor, Unilever, Avon, Boots and Dr Oetker. The Group also has a substantial property portfolio with significant development potential.

For further information, please contact:

Adam Formela, Chief Executive, Robinson plc	01246 505196
Guy Robinson, Finance Director, Robinson plc	www.robinsonpackaging.com
Nick Tulloch, Arbuthnot Securities Limited Paul Gillam, Arbuthnot Securities Limited	020 7012 2000

Robinson plc, Chesterfield, S40 2PH, UK.

Registered number 39811 (England) AIM code "RBN"

ENDS

 

END

 

 

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