(Alliance News) - Robinson PLC said Thursday its expects to report a rise in revenue in 2019 and its profit will be ahead of expectations, thanks to lower prices for a key input.
Shares in the plastic and paperboard packaging manufacturer were 11% higher in London on Thursday afternoon at 83.00 pence each.
Robinson said its 2019 revenue is expected to be GBP35 million, 6.7% higher than the GBP32.8 million reported the year before.
"The directors anticipate profits for 2019 will be ahead of current market expectations, reflecting the benefit of falling resin prices in the current year," the company added.
In 2018, pretax profit widened 8.7% to GBP685,000.
Robinson is scheduled to release its annual results on March 27.
By Paul McGowan; paulmcgowan@alliancenews.com
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Robinson (RBN)