10th Jul 2013 12:00
RPC Group
10th July 2013
Interim Management Statement
RPC Group Plc, Europe's leading supplier of rigid plastic packaging, is issuing the following interim management statement ahead of its Annual General Meeting on Wednesday, 10 July 2013 at Stationers' Hall, Ave Maria Lane, London, EC4M 7DD.
Trading performance
Trading in the period from 1st April to 30th June 2013 ("the period") was ahead of last year, resulting in adjusted operating profit (before exceptional items) being slightly ahead of management expectations. We have seen higher activity levels and as anticipated, the sales mix continued to increase towards higher value added products.
The financial position remains robust with satisfactory cash flow development in the quarter and the Group retains significant headroom under its existing debt facilities.
The "Fitter for the Future" business optimisation project continues to progress well with the Antwerp site in Belgium now closed and the transfer of business from the Beuningen site (Netherlands) going to plan as are the additional cost efficiency measures across several sites. The Group has reached agreement to sell two redundant properties.
Pim Vervaat, RPC's Chief Executive said:
"The year has started satisfactorily with improved activity levels in what remains a challenging macro-economic environment. The Group continues to seek higher added value growth both within and outside Europe and, with its strong market positions and leading technological capabilities, remains confident in its ability to deliver further progress in the current financial year."
For further information:
RPC Group Plc 01933 410 064
Pim Vervaat, Chief Executive
Simon Kesterton, Group Finance Director
FTI Consulting
Richard Mountain
Nick Hasell 020 7269 7291
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