Trading Statement
January 22 2007 - 2:02AM
UK Regulatory
RNS Number:8710P
Robinson PLC
22 January 2007
For Immediate Release 22nd January 2007
Robinson plc
TRADING STATEMENT
Robinson plc ("Robinson" or "the Company"; stock code: RBN), the custom
manufacturer of paperboard and plastic packaging, today issues the following
trading statement, prior to the announcement of its preliminary results for the
year ended 31 December 2006, which is scheduled to be released on 23rd March
2007.
Overall, Robinson achieved a 10% increase in turnover in 2006, which is largely
attributable to the acquisition of the Stanton Hill business from VR Plastics in
May 2006. The other Plastics businesses achieved turnover growth of 13%, much
of which was attributable to the pass through of significant increases in resin
and energy costs. Turnover of the Paperboard division was down 24%, reflecting
continuing tough market conditions.
As a result of the previously announced loss of the Goldenfry paperboard
business at the end of 2006, the Company has made 49 redundancies at
Chesterfield and has incurred some associated non-cash write offs. This,
together with continuing pressure on plastics margins and the exceptional
start-up costs of the Poland operation, will result in a disappointing outcome
for 2006. The Stanton Hill plastics business is performing ahead of
expectations and the Polish operation is moving towards break even, in line with
our expectations. The sales of surplus properties in Chesterfield are
progressing and we hope to be in a position to make some further announcements
regarding these in the next few months.
For further information, please contact:
Robinson PLC
Guy Robinson, Finance Director Tel: 01246 220022
www.r1son.co.uk
Bankside Consultants
Sue Scott/Michael Padley Tel: 020 7367 8888
--ENDS--
This information is provided by RNS
The company news service from the London Stock Exchange
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