27th Mar 2014 11:44
LONDON (Alliance News) - Rigid plastic packaging business RPC Group PLC Thursday said revenue in the fourth quarter is expected to be ahead of the previous year due to the inclusion of recently acquired businesses and better underlying activity levels.
In a pre-close trading statement for the financial year ending March 31, the firm said its overall trading performance for the full year 2013/14 is anticipated to be in line with management expectations.
The company said the integration of its new M&H Plastics and Helioplast businesses, acquired in December, have been completed with the "synergy potential verified and slightly ahead of expectations".
"The 'Fitter for the Future' programme is progressing well with production having ceased at the Troyes plant in France and the consolidation of the Swedish plants proceeding to plan," it added.
The Fitter for the Future cost control programme was introduced in 2012.
Commenting on the firm's performance, Chief Executive Pim Vervaat said: "I am pleased with the progress we have made towards the strategic goals set out in our Vision 2020 focused growth strategy, and I am confident that further progress will be made going forward against the backdrop of more encouraging macro-economic conditions."
The stock was trading at 617.50 pence Thursday morning, down 0.50p or 0.1%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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