RPC profit soars

Plastic packaging supplier RPC revealed a surge in full year pre-tax profit and expects further growth from mature European and emerging markets. Pre-tax profit rose to £34.6m for the year to 31 March from £19.2m a year earlier. Sales increased by £99.3m to £819.2m after 9% growth on a like-for-like basis and the inclusion of £37.5m Superfos turnover following its acquisition in February. "Driving the growth are sales of higher added value products into sectors such as coffee capsules, personal care, long shelf-life and pharmaceuticals," said RPC in a company statement. Net debt increased to £178.7m compared to £80.2m in 2010 with £115.5m additional debt assumed to fund the Superfos acquisition. RPC added, "The new financial year has started satisfactorily with continued growth and results in line with management expectations." The company will pay a final dividend of 8.1p a share, bringing the full-year dividend to 11.5p, up 37% on the previous year.At 8:30am in London, shares of RPC were trading at 354p, up 9.8p. CJ