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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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Robinson rallies as profits rise, outlook upbeat

Fri, 22nd Mar 2019 09:10

(Sharecast News) - Rigid plastic and paperboard packaging company Robinson reported an 8.7% jump in 2018 pre-tax profit on Friday, thanks in part to tighter control of operating costs, as it struck an upbeat note on the outlook for this year.In the year to the end of December 2018, pre-tax profit rose to £685m from £630m in 2017, with revenue up 10% to £32.8m. Operating profit before exceptional items and amortisation of intangible assets increased to £1.5m from £1.3m, while operating costs declined by 2% to £4.37m.Robinson said it had passed on some but not all input price increases to customers in a "very challenging" retail environment, leading to a drop in the gross margin to 18% from 19%.The company recommended a final dividend of 3p a share, in line with 2017, taking the total dividend to 5.5p, also in line.Chairman Alan Raleigh said: "I am pleased to report improved revenues and profits for 2018. This was achieved through greater focus on improved service to our customers, controlling material costs and managing overheads."We also agreed to a change in leadership to drive this even harder in 2019 and to engage more effectively in shaping the plastics sustainability agenda through our contribution to the circular economy."Consequently, we feel the business is in a much stronger position to face the challenges in front of us and we expect to achieve double-digit sales growth again in 2019. We also expect a marked step-up in profitability, ahead of market expectations, arising from our 'Strategy into Action' program which will drive faster, better execution of our plans. Central Europe will continue to play an important role in driving profitable growth."Robinson said its pipeline of future business is now much stronger and more advanced than in previous years. This, along with even stronger customer partnerships, gives it confidence that it can achieve double-digit sales growth again in 2019.At 1055 GMT, the shares were up 18% to 78p.

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17 Jan 2014 08:54

Robinson Says 2013 Revenue Expected To Be Up 11%

LONDON (Alliance News) - Packaging solutions business Robinson PLC Friday said it expects revenue for the full year to be up by around 11% on last year following a number of new contract wins. The manufacturer of plastic and paperboard packaging expects to report revenue of GBP23.4 million

5 Nov 2013 11:56

DIRECTOR DEALINGS: Robinson CEO Exercises Share Options

21 Jan 2013 09:38

Packaging manufacturer Robinson predicts revenue decline for 2012

Robinson, the manufacturer of plastic and paperboard packaging, expects its revenue to decline by one per cent over 2012, the company has announced in a pre-close trading statement ahead of its release of final results for the year due out in March. The company stated that it was expecting revenues

31 May 2012 15:50

3i Chief Executive buys four million shares

Simon Borrows, the new Chief Executive of FTSE 250 private equity infrastructure and debt management group 3i, has celebrated his new position with the purchase of four million shares. The director, who clearly has faith in his own ability to overcome the company's challenges, handed over £6.9m fo

23 Mar 2012 07:43

Robinson rockets on profits growth

Plastic packaging maker Robinson has seen revenues and profits beat expectations during 2011 after it managed to sell its underperforming paperboard tube business. Group revenue increased by 10% over 2010 to £21.5m, better than than the consensus forecast of £21.4m. Profits before tax rose 23% to h

28 Dec 2011 14:46

RBS off US hook

The US Department of Justice is dropping a deferred prosecution against the Royal Bank of Scotland (RBS) that has been hanging over the group's American operations since 2007. The news means the authorities in the US now believe RBS complies with banking secrecy and dollar clearing laws that have a

6 Apr 2011 16:22

Hiscox directors take stakes

Two directors at Hiscox have invested in stakes in the FTSE 250-listed specialist insurer. Andrea Rosen, who is also a director of Canadian energy group Emera, took 5,473 shares at 380.5p a time, paying more than £20,000. Ernst Jansen, who joined Hiscox in 2008 after a career in the European chemi

25 Mar 2011 17:42

Robinson soars after 78% profit increase

Robinson shares soared over 16% after the packaging manufacturer revealed a 78% profit increase in 2010 on sales that grew 13%. Pre-tax profit for the 12 months to 31 December surged to £1.71m, from £0.96m in 2009, as a better customer mix and lower labour and electricity costs resulted in a gross

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