Rpc Group Share News (RPC)

Plastic packaging manufacturer RPC posted a net loss for the year after it was hit by 'significant restructuring costs and impairment charges.' For the full year ended 31 March 2009 sales were up 11% to £769.1m while adjusted operating profit fell 13% to £35.5m in challenging trading conditions."The principal challenge in the year came from the deteriorating economic environment impacting activity levels," the group said in a company statement. The group reported a net loss of £7.7m compared with a profit of £4.4m the previous year following restructuring costs.Looking ahead to future trading chairman Jamie Pike said, "RPC has good prospects with improving industry dynamics and the successful completion of RPC 2010. In light of these good prospects and the strong cash performance the Board is proposing to increase the dividend per share."The board has recommended a 3.3% increase in the total dividend to 9.3p compared with 9p in 2008. The final dividend has been increased to 6.4p from 6.1p.