Robinson PLC Trading Statement (3894M)
21 January 2021 - 6:00PM
UK Regulatory
TIDMRBN
RNS Number : 3894M
Robinson PLC
21 January 2021
Robinson plc
21 January 2021
TRADING STATEMENT
Robinson plc ("Robinson", the "Company" or the "Group"; stock
code: RBN), the custom manufacturer of plastic and paperboard
packaging, is pleased to issue the following trading statement for
the year ended 31 December 2020.
Revenues are expected to be GBP37m for the year, which
represents a 6% increase on 2019. The Directors anticipate adjusted
and reported profit before tax for 2020 to be ahead of current
market expectations, and ahead of 2019.
During the year the Company has invested GBP4.6m in new
additional and replacement production equipment and in the
refurbishment of a manufacturing building in its UK business. These
investments are consistent with our commitment to maintain a
competitive manufacturing infrastructure that supports our
intention to compete and win in our markets through sustainable
supply, innovation capabilities, excellent product quality and
cost-efficient operations. This investment in the business was
funded by strong cash generation from operations resulting in net
debt* at 31 December 2020 of GBP6.6m (2019: GBP6.9m).
Subject to any negative impact that may arise from the ongoing
Covid-19 pandemic, it remains the intention of the Board to pay a
total dividend of 8.5p (2019:2.5p) per share for the year ended 31
December 2020, of which 5.5p per share has been paid to date.
The Company expects to report its final results for the year
ended 31 December 2020 on 25 March 2021.
Alan Raleigh, Chairman commented:
"Robinson's performance in 2020 has been resilient in the face
of significant challenges. This has primarily been achieved due to
the dedication of our people. We have continued to trade throughout
the period, operating in line with local hygiene and social
distancing requirements to ensure the safety and well-being of our
colleagues, whilst effectively serving our customers.
I am pleased to confirm that in accordance with the Board's
succession plan, Guy Robinson stepped down as Finance Director on 1
January 2021 and was succeeded by existing executive Board Director
Mike Cusick. The Board will continue to benefit from Guy's
experience as an executive Director until May 2021 and as a
non-executive Director thereafter. Additionally, as part of our
ongoing commitment to good corporate governance during the year,
existing non-executive Board Director Sara Halton was appointed as
the Senior Independent Director and Chair of the Audit and Risk
Committee. I look forward to working with both Guy, Mike and Sara
in their new roles at Robinson.
Despite the uncertain economic environment, we remain committed
to ongoing delivery of our target of mid to high single digit sales
growth and a 6-8% return on sales**."
*cash less borrowings (excludes IFRS16 lease liabilities)
**operating profit margin before exceptional items and
amortisation of intangible assets
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
Helene Roberts, CEO Tel: 01246 389280
Mike Cusick, Finance Director
finnCap Limited
Ed Frisby / Giles Rolls, Corporate Tel: 020 7220 0500
Finance
Tim Redfern / Tim Harper, ECM
About Robinson:
Being a purpose-led business, Robinson specialises in custom
packaging with technical and value-added solutions for food and
consumer product hygiene, safety, protection, and convenience;
going above and beyond to create a sustainable future for our
people and our planet. Their main activity is in injection and blow
moulded plastic packaging and rigid paperboard luxury packaging,
operating within the food and beverage, homecare, beauty and
personal care, and luxury gift sectors. Robinson provides products
and services to major players in the fast-moving consumer goods
market to include McBride, Procter & Gamble, Reckitt Benckiser,
SC Johnson, and Unilever. Headquartered in Chesterfield, UK,
Robinson has 3 plants in the UK, and 2 in Poland. The organisation
was formerly a family business with its origins dating back 180
years, currently employing over 350 people. The Group also has a
substantial property portfolio with development potential.
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END
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