LONDON (Alliance News) - Shares in plastic packaging maker Robinson PLC jumped Friday after it held its 2018 dividend on strong profit and revenue growth, and it expects more of the same in 2019.
Shares in Robinson were 9.1% higher at 72.00 pence early on Friday.
In 2018, pretax profit widened 8.7% to GBP685,000 from GBP630,000 the year prior. This was after revenue rose 10% to GBP32.8 million from GBP29.8 million the year before.
Profit performance was helped by operating costs falling to GBP4.4 million from GBP4.5 million the year prior.
"I am pleased to report improved revenues and profits for 2018," Chair Alan Raleigh said. "This was achieved through greater focus on improved service to our customers, controlling material costs and managing overheads."
Robinson proposed a 3.0 pence per share final dividend, unchanged on the year prior. This resulted in the full year dividend also holding firm at 5.5p.
"Our pipeline of future business is now much stronger and more advanced than in previous years," Raleigh added. "This, together with even stronger customer partnerships, gives us confidence we will see 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," Raleigh continued.
"Central Europe will continue to play an important role in driving profitable growth."
Robinson (RBN)