Robinson PLC AGM Statement (4348R)
30 June 2020 - 4:00PM
UK Regulatory
TIDMRBN
RNS Number : 4348R
Robinson PLC
30 June 2020
30 June 2020
Robinson plc
AGM TRADING STATEMENT
Robinson plc ("Robinson" or the "Group" stock code: RBN), the
custom manufacturer of plastic and paperboard packaging based in
Chesterfield, is holding its Annual General Meeting today at 11.30
am. The Chairman, Alan Raleigh, will make the following
statement:
" We are pleased to report sales growth of 5% in first half of
the year compared with 2019 despite challenging market conditions.
Margins have maintained the momentum experienced in the second half
of 2019 and operating costs were at a similar level with a
consequent increase in operating profits.
Net debt has reduced to currently GBP6m from the 2019 year end
of GBP7m, after capital expenditure of GBP2m as we continue to
invest in new and upgraded facilities and plant to secure future
growth.
The Covid-19 pandemic has presented both challenges and
opportunities for the business. End consumer demand for the
products for which we supply packaging has resulted in some ups and
down with a net positive effect on sales. We have successfully
managed to keep our manufacturing operations safely running through
the dedicated efforts of our employees. We still have no known
positive cases amongst our workforce.
The pandemic has, however, slowed down progress with selling our
surplus properties due to the inability to conclude site
inspections during the lockdown and volatility in the UK housing
sector. Consequently, we expect delays of at least 6 months to
previously indicated timescales.
Whilst the outlook for the year remains uncertain, we are
confident the business can prosper, and we continue to explore and
develop the opportunities that will emerge.
In March we decided, because of the uncertainties facing the
business due to the Covid-19 pandemic, not to declare a final
dividend in respect of 2019 to conserve cash. As we have gained
greater clarity on the impact on the business, the Board is pleased
to effectively re-instate this and announces a first FY20 interim
dividend of 3.5p (2018 equivalent final: 3.5p) to be paid on 30
July 2020 to shareholders on the register at 10 July 2020 (record
date). The ordinary shares ex-dividend date is 9 July 2020."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
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
Tim Redfern / Tim Harper, ECM
Note for Editors:
Headquartered in Chesterfield, with manufacturing facilities in
Kirkby-in-Ashfield, Stanton Hill (Nottinghamshire), Chesterfield,
Warsaw and Lodz (Poland), Robinson currently employs around 320
people. It was formerly a family business, with its origins dating
back over 181 years. Today the Group's main activity is the
manufacture and sale of injection and blow moulded plastic
packaging as well as rigid paperboard premium gift packaging.
Robinson operates primarily within the food, household, drink,
confectionery, cosmetic and toiletry sectors, providing niche or
custom manufacture to major brands in the fast-moving consumer
goods market, such as Unilever, Proctor & Gamble, Reckitt
Benckiser, SC Johnson, and McBride. The Group also has a
substantial property portfolio with development potential.
Robinson plc, Chesterfield, S40 2AB, UK. Registered number 39811 (England) AIM code "RBN"
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END
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