22nd Aug 2018 10:30
LONDON (Alliance News) - Robinson PLC on Wednesday said its profit rose significantly in the first half of 2018 due to improvement in business trading.
The plastic & rigid box packaging manufacturer said pretax profit multiplied to GBP86,000 in the first six months of 2018 from GBP2,000 reported for the same period a year earlier, as revenue increased by 15% to GBP15.6 million from GBP13.6 million.
The company said it saw an improved trading with its existing customers, arising from our previous investments in people. Robinson said it expects this momentum to continue in the second-half of the year.
The company also said it anticipates a further GBP3 million of spend arising from its investments in plant and equipment during the second-half.
After careful consideration, Robinson said it has decided to hold the interim dividend at 2.5 pence per share.
"The revenue line is now showing signs of some momentum," said Chairman Alan Raleigh.
"It is anticipated that this growth will leverage our completed fixed cost investments in the second half but more significantly beneficially impact in 2019," added Raleigh.
Shares in Robinson were trading 5.3% higher on Wednesday at 79.00p each.
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