RBN Robinson Plc

TIDMRBN

RNS Number : 2877X

Robinson PLC

05 May 2016

 
   5 May 2016 
 

Robinson plc

AGM TRADING STATEMENT

At the Annual General Meeting to be held at 11.30am today, the Chairman of Robinson plc, Richard Clothier, will make the following statement.

"In the first quarter of 2016, revenues were 10% down on the previous year of which 4% was due to lower resin prices. The lower volumes were mainly as result of lower demand for our customers' products in the market which is a continuation of the trend in the second half of 2015. Resin prices are increasing which will reduce margins in the short term before prices are adjusted. Previously reported new business gains have come on stream slower than expected and will benefit the second half. Furthermore, the build-up of additional new contracts commencing in the latter part of the year is very encouraging.

The final payment for the acquisition of the Madrox business in Warsaw has been agreed at GBP4.3m in line with the 2015 financial statements and will be settled during May 2016.

A planning application has been submitted to redevelop 24 acres of land previously used in our former healthcare business in Chesterfield. It is anticipated that the application will be determined in the summer, which would allow for negotiations to take place with prospective developers during the second half of 2016."

For further information, please contact:

 
Robinson plc                         www.robinsonpackaging.com 
Guy Robinson, Finance Director      Tel: 01246 389283 
 
finnCap Limited 
Ed Frisby / Giles Rolls, corporate  Tel: 020 7220 0500 
 finance 
 Stephen Norcross / Alice Lane, 
 corporate broking 
 
   Robinson plc, Chesterfield, S40 2AB, UK. Registered number 39811 (England)       AIM code "RBN" 

This information is provided by RNS

The company news service from the London Stock Exchange

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