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Hi Numbers, there are rules around how buybacks can be executed so they don't cause the share price to rise. They can provide a floor for less liquid shares but in this case the number of shares being bought back is a fraction of the days trading so unlikely to be noticeable.
Then turned sour!!! But needed to consolidate the fall I guess. Hopefully 700p tomorrow!
RPC are also quietly buying up their own shares. Previously they were buying around 32K shares per day, but now have ramped the volume up to around 290K shares per day over the past 2 days. I would have thought this would have caused a decent rebound to back above 700p.
Looks like it HeresHopin, drop massively overdone, it's nuts, haven't seen these levels for over 2 years
P/E of below 10, dividend yield of 4.5%, consistent ROE and cash flow yield. Whopping 6.7% short interest will need covering at some point, can't see them pushing this to a P/E of less than 9. I believe the cash conversion issue is temporary. Capex is well over depreciation but they are building a moat by being a leader in quality and innovation and also taking advantage of a huge long term opportunity in China. Leverage falling to 1.5 times over next 1-2 years leading to likelihood of special dividends when the buyback is complete.
one of my Longs and into KIER - no brainer after pointless Barc downgrade
Liked what they said in rns, that the new eu directive does not impact rpc. That's what scared me last week!
Kingrav. Spot on with Stop loss comments. I just spent 30 minutes explaining to my wife how this triggered the SP crash today. She was totally disinterested of course.
reckon load of stop losses were triggered. Mine was at 700p and I had 12k of stock last week. Last Tuesday fall scared me, and sold up for 790p last week, thank god! Piled in today at 670p. Has to be a bargain, I thought RNS was good myself!
Not sure what else to say. Having fully digested results and given serious consideration to the future prospects concerning challenges in environment and recyclable materials it is impossible to see this as anything other than the biggest bargain in the 250. Will probably buy another 5k tomorrow if still sub 7. GL All.
I can't see a world in the near future were plastic will not be needed, but I can see one in which additives will be added by law to enable the products to be biodegradable, this technology is with us now, Rpc like a takeover so they could do worse than take out SYM and add their biodegradable additives to products that are suitable, A great pr exercise would gain us some good publicity for change.
Perhaps more to come at this ? silly price?
I don't understand todays volatility. What is wrong with the results? I had to top up - not at the bottom but @ 6.70 happy enough. Coy not subject to one use plastics agro - so who dumped 1.5mil shares between 0800 and 0815? And why? Were these triggered by stop loss settings?
The fundamentals and results may be good, but the plastic sector worldwide is and will be very much out of favour. The big institutional investors for ethical reasons alone will not be investing in the plastics industry. However it must be said that RPC has been and is one of the plastic industry leaders in investing a lot of money in recycling its products.
Thanks my2penneth. Bought some today, hopefully SP finish above 715p today :)
Says 18 on here?
Subject to shareholder approval at the Annual General Meeting on 18 July 2018, the final dividend will be paid on 31 August 2018 to shareholders on the register at close of business on 10 August 2018, with an ex-dividend date of 9 August 2018. Enquiries: Nick Giles Company Secretary + 44 (0) 1933 410 064
20.2p - sometime August. Last year was 10 August.
how much ?
RPC Group plc (LSE: RPC) is a packaging business based in the United Kingdom, and is one of Europe's largest supplier of plastic packaging.[2] Its headquarters are in Rushden in Northamptonshire. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. Origins and growth The company's origins lie in a plastic packaging production unit at Oakham established by a Danish group, Superfos, in 1973.[3] The plant was acquired by Reed International in 1983 and was the subject of a management buyout as Reedpack Containers in 1988, but was then bought by Svenska Cellulosa Aktiebolaget in 1990.[3] The business was then the subject of a management buyout from Svenska Cellulosa Aktiebolaget in 1991.[4] It was first listed on the London Stock Exchange in 1993.[4] It went on to buy Continental Plastics Europe, with 12 sites across Europe, in 1997[4] and Wiko, an injection moulding business based in Germany, in July 2000.[5] In December 2010 it bought Superfos Industries, its former parent, for about �240 million (�203 million).[6] Acquisitions In December 2013 the company acquired Maynard & Harris Plastics, a manufacturer of rigid plastic packaging, for �103.5 million[7] and in May 2014 it bought Ace Corporation Holdings, a Chinese injection moulder, for up to $430 million.[8] It then bought Promens, with 50 plants internationally, in a �386 million (�306 million) deal in December 2014.[9] For 2016, the company earned �2.75 billion, a two-thirds jump in revenue from the year before after a series of acquisitions. Among those acquisitions were the bottle-top maker GCS in France and British Polythene Industries.[10] In March 2016 the company bought French bottle-top maker Global Closure Systems for �650 million (�468.7 million) to strengthen its position in Europe's plastic packaging market[11] and in August 2016 the company bought British Polythene Industries for �261 million.[12] It went on to buy Letica, an American business, for $640 million in February 2017.[13] The company makes a wide variety of plastic food-packaging products including Heinz Tomato Ketchup and Nivea suncream bottles
Just bought a load at 671
I agree looks a medium term bargain
It is rare that the market presents us with such a great opportunity to purchase a company performing so well at such a discount. I have been watching the stock for over a year but was reluctant to pull the trigger, despite the strong financials due to the bad press plastics have been receiving. However today I am in, missed the bottom but at 660gbx I think RPC is a bargain. From a technical standpoint it looks like we should be back in the 750 to 850 range in the near future. Good luck all!
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Now outweighing sellers. Bodes well.