AGM Statement

15 July 2015

RPC GROUP PLC

AGM Trading Update

RPC Group Plc, the international plastic products design and engineering company, issues a trading update covering the period from 1 April to 30 June 2015 ("first quarter"), ahead of its Annual General Meeting being held today. 

Trading performance

Revenues in the first quarter were significantly ahead of the same period last year, benefiting from the contribution of acquisitions and continued underlying like-for-like growth. Overall trading was in line with management's expectations when taking into account the adverse impact of the time lag in passing through higher polymer prices which increased significantly in the quarter due to the unprecedented number of forces majeure in the supplier base. Polymer prices have recently started to reduce as supply constraints ease.

The integration of Promens is progressing well, with its trading performance and the realisation of cost synergies in line with expectations. The Group continues to explore further opportunities for growth and in May it strengthened its position in the UK personal care market with the acquisition of Depicton (annual turnover of circa £2m), which will be integrated into M&H.

The Group's financial position remains robust, with good cash flow development in the quarter and significant headroom under its debt facilities.

Commenting on the first quarter performance, Pim Vervaat, RPC's Chief Executive, said:

"Overall the start to the new financial year has been encouraging, certainly when taking into account the time lag in passing through higher polymer prices. The integration of the Promens business is going well and the Vision 2020 growth strategy continues to generate further opportunities for growth."

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