Robinson PLC - plastic and paperboard packaging manufacturer - In the six months to June 30 swings to pretax profit of GBP0.7 million from a loss of GBP0.9 million a year prior. Revenue climbs 11% to GBP27.1 million from GBP24.3 million. Gross margin rises to 21% from 18%. Interim dividend was unchanged at 2.5 pence. Names John Melia as Group Chief Executive.
Chair Alan Raleigh comments: "The results for the first half of 2024 reflect the positive momentum that we have experienced since July 2023. Whilst market conditions remain challenging, I am very pleased that our approach to partnering with major fast moving consumer goods brand owners, our investment in new technology and our ability to deliver packaging made from post-consumer recycled material is delivering increased sales volume and improved performance."
"The company expects revenue and profit for the 2024 financial year to be in line with current market expectations. We remain committed in the medium-term to delivering above-market profitable growth and our target of 6-8% adjusted operating margin."
Current stock price: 110.00 pence, up 4.8% in London on Thursday
12-month change: up 16%
By Jeremy Cutler, Alliance News reporter
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Robinson (RBN)
