12th Jan 2017 09:09
LONDON (Alliance News) - Plastic and paperboard packaging company Robinson PLC on Thursday said revenue for 2016 will fall year-on-year due to lost business and lower demand for some of its products.
Robinson had said in its interim results in August that revenue for 2016 would take a hit from lower volumes in the UK and from one customer taking an element of packaging production in-house.
For the full year, Robinson expects revenue of around GBP27.5 million, down 5.6% year-on-year. It also took a hit in the second half from contract delays, which have been pushed into 2017.
Trading profit for 2016, Robinson said, will be slightly below market expectations due to this sales weakness.
But Robinson said it anticipates revenue and profit growth in 2017 thanks to new business wins and from the contracts delayed from 2016 flowing through.
Shares in Robinson were down 0.1% to 140.40 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2017 Alliance News Limited. All Rights Reserved.
Related Shares:
Robinson