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Pin to quick picksRobinson Share News (RBN)

Share Price Information for Robinson (RBN)

London Stock Exchange
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Share Price: 112.50
Bid: 105.00
Ask: 120.00
Change: 0.00 (0.00%)
Spread: 15.00 (14.286%)
Open: 112.50
High: 112.50
Low: 112.50
Prev. Close: 112.50
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IN BRIEF: Robinson shares plunge as earnings lag behind previous year

Thu, 24th Jun 2021 10:59

Robinson PLC - Chesterfield-based plastic and paperboard packaging manufacturer - Reports earnings for year-to-date are "well behind" previous year level in a statement ahead of its annual general meeting on Thursday. Shares were trading at 110.50 pence, down 21% on Thursday morning.

"As we indicated in the 2020 full year results, published in March, sharp increases in resin prices, together with some lack of availability, have created volatility in 2021. As a result, margins to date are reduced," the company said.

"Whilst some convertors have been forced to shut down production lines, we have been successful in mitigating the substantial challenge of securing resin supply to continue to operate."

Following its acquisition in February of blow moulded container manufacturer Schela Plast, debt increased to GBP13.1 million at May 31, more than double the GBP6.6 million seen the year before.

Looking ahead, Robinson says raw material shortages and price increases will continue to have a short-term impact on earnings in the first half of 2021.

Current stock price: 110.50 pence; down 21% on Thursday

Year-to-date change: down 28%

By Will Paige; willpaige@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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12 Dec 2019 14:15

Robinson Expects Annual Profit To Beat Views On Resin Price Decline

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(Sharecast News) - Plastic and paperboard packaging manufacturer Robinson told investors on Thursday that its revenues looked set to have grown year-on-year.

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21 Aug 2019 08:27

Robinson Profit Rises In First Half As Customers Prepared For Brexit

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(Sharecast News) - Plastic and packaging manufacturer Robinson posted a jump in first-half profit on Wednesday as rising revenue helped to offset higher recruitment costs.

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20 Aug 2019 09:47

CORRECT: Robinson Hires Klockner Pentaplast Exec Helene Roberts As CEO

(Alliance News) - Plastic and paper packaging firm Robinson PLC said Tuesday it has appointed Helene Roberts as chief executive officer with effect on November 4.She will be replacing Adam

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20 Aug 2019 09:41

Robinson Hires Klockner Pentaplast Executive Adam Formela As New CEO

(Alliance News) - Plastic and paper packaging firm Robinson PLC said Tuesday it has appointed Helene Roberts as chief executive officer with effect on November 4.She will be replacing Adam

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