Trading Statement
January 20 2009 - 4:51AM
UK Regulatory
TIDMRBN
RNS Number : 9236L
Robinson PLC
20 January 2009
20 January 2009
FOR IMMEDIATE RELEASE
Robinson plc
TRADING STATEMENT
Robinson plc ("Robinson" or "the Group"; stock code: RBN), the custom
manufacturer of plastic and paperboard packaging, today issues the following
trading statement, prior to the announcement of its preliminary results for the
year ended 31 December 2008, which are scheduled to be released on 3 April 2009.
Revenues for the Group overall were maintained in 2008 at GBP25.5m, with revenue
from overseas operations increasing by 82% to GBP6m and now representing 23% of
the Group's total revenue. This is a result of customers continued migration of
business to Central Europe to the benefit of the Group's facility in Lodz,
Poland. As a result of this migration, the UK operations revenues reduced by 11%
in 2008. Overall though, revenues have benefited from favourable exchange rate
movements and increased raw material costs which were successfully passed on to
customers.
In 2008 the underlying volumes fell by approximately 4% on 2007, mainly due to
the annualised impact of two contracts lost in the latter part of 2007. These
contracts were however at low margins and following the actions taken to reduce
capacity and reduce cost in 2007, we expect the full year result for 2008 to
show a further improvement in profitability over the previous year.
During the past three months significant reductions in input prices have
occurred. This continued trend will help to further improve profitability to
acceptable levels going forward, although for the majority of our plastics
business the benefit will be contractually passed on to customers. The year is
starting with evidence of growth in both sales and margins, but at this early
stage much depends on how the consumer goods markets develop during the year.
As a result of the weak UK property market, which we expect to continue for the
foreseeable future, the sale of the surplus properties is likely to be postponed
until more favourable conditions return.
The Group's website has also been updated and its new address is
now
www.robinsonpackaging.com. All information required pursuant to AIM Rule
26 (company information disclosure) can be found at this address.
For further information, please contact:
+---------------------------------+-----------------------------+
| Robinson plc | |
+---------------------------------+-----------------------------+
| Guy Robinson, Finance Director | Tel: 01246 505 196 |
+---------------------------------+-----------------------------+
| | www.robinsonpackaging.co.uk |
+---------------------------------+-----------------------------+
| Arbuthnot Securities | |
+---------------------------------+-----------------------------+
| Richard Tulloch | Tel: 020 7012 2000 |
+---------------------------------+-----------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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