14th Jan 2008 12:00
Robinson PLC14 January 2008 FOR IMMEDIATE RELEASE 14 January 2008 Robinson plc TRADING STATEMENT Robinson plc ("Robinson" or "the Group"; stock code: RBN), the custommanufacturer of plastic and paperboard packaging, today issues the followingtrading statement, prior to the announcement of its preliminary results for theyear ended 31 December 2007, which are scheduled to be released on 14 March2008. Turnover for the Group overall in 2007 decreased by 11%. This was largelyattributable to the previously reported loss of a major long standing customerof the UK Paperboard business. Turnover from the Plastics division rose by 1%due mainly to a full-year contribution from the Stanton Hill business, acquiredin May 2006. Despite the overall increase in plastics sales, revenues from our UK facilitiesdeclined due to the continued transfer of both plant and customers to ourfacility in Lodz, Poland. As part of the Group restructuring, action is beingtaken to reduce capacity in the UK, which has resulted in 26 redundancies at ourKirkby factory and write-downs in the value of plant and machinery amounting toaround £0.7m. The financial impact of these actions will be reflected in the2007 full year results. The resultant improvements to our UK cost structure willimprove efficiency with the objective of enhanced earnings in 2008. Our recentlyestablished Polish facility is expected to continue to show significantprofitable growth. In the UK Paperboard division, a recently-won 2 year contract to supply gravygranule packaging to a new company will significantly improve sales in 2008.This has the potential to go some way to offset the lost major contract in late2006. The proposed sale of the surplus property in Chesterfield is progressing with arevised planning application expected to be submitted early in 2008. For further information, please contact: Robinson plc Tel: 01246 220022Guy Robinson, Finance Director www.r1son.co.uk Bankside Consultants Tel: 020 7367 8888Sue Scott/Michael Padley ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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