29th Jan 2015 07:56
LONDON (Alliance News) - FTSE 250-listed plastics company RPC Group PLC on Thursday said revenue in its financial third quarter ticked up year-on-year on the back of acquisitions and slightly higher underlying activity levels.
RPC said its revenue for the third quarter to the end of December was slightly higher year-on-year, without providing specific figures, on the back of acquisitions made over the year, while underlying activity levels also were up.
Adjusted operating profit for the period was in line with its expectations and significantly higher year-on-year on the back of organic growth, RPC said, and from acquisition contributions.
The group said its performance in the quarter was helped by the time lag in passing through falling polymer prices to its customer base, which was offset to some extent by the strength of sterling against the euro. RPC said it expects both trends to continue in the final quarter of its financial year to the end of March.
"Despite the difficult trading environment in Europe, I am encouraged by the group's recent trading performance and the contributions from the recent acquisitions," said RPC Chief Executive Pim Vervaat.
By Sam Unsted; [email protected]; @SamUAtAlliance
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