31st Mar 2016 07:00
31 March 2016
RPC Group
Pre Close Trading Statement
RPC Group ("RPC" or the "Group"), a leading plastic products design and engineering company for packaging and non-packaging markets, today issues its pre close trading statement for the financial year ending 31 March 2016, ahead of its full year results announcement due to be published on 2 June 2016.
Trading Performance
Revenues for the financial year 2015/16 are anticipated to be significantly ahead of last year benefiting from continued organic growth throughout the year and the contribution from acquisitions. The adjusted operating profit is also expected to be significantly higher than last year and in line with management expectations as the first phase of Promens related synergies have been fully realised.
The Group's financial position remains robust with good cash flow development projected for the year and significant headroom remaining under the Group's debt facilities.
Vision 2020 Strategy
The Group continues to make good progress in implementing the Vision 2020 focused growth strategy by growing organically and through acquisitions. The acquisition of Global Closure Systems ("GCS"), a leading global manufacturer and provider of closures and dispensing systems, was completed on 29 March and preparations for its integration into RPC are well advanced.
The Group also completed the acquisition of JP Plast on 8 March 2016. The JP Plast acquisition meets all of the Group's strict acquisition criteria and had sales of €13.5m during 2015 operating from two well-invested locations in the Czech Republic and Slovakia where it has market leading positions.
The second phase of the realisation of the Promens related synergies is progressing in line with plan, with the work force consultation of various foreseen plant closures either concluded or well advanced.
Pim Vervaat, RPC's Chief Executive, said:
"I am pleased with the Group's performance during the year and the continued implementation of the Vision 2020 growth strategy. I am looking forward to further growth in 2016/17 with GCS adding high added value product ranges to the Group's overall product offering and further extending our global reach."
Contacts:
RPC Group Plc | 019 3341 0064 |
Pim Vervaat, Chief Executive
Simon Kesterton, Group Finance Director
FTI Consulting | 020 3727 1340 |
Richard Mountain
Nick Hasell
Related Shares:
Rpc Group