TIDMRBN 
 
RNS Number : 5564R 
Robinson PLC 
25 August 2010 
 

25 August 2010 
 
ROBINSON PLC 
 
 
INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2010 
 
Robinson plc ("Robinson" or "the Group"; AIM: RBN), the custom manufacturer of 
plastic and paperboard packaging, announces its unaudited interim results for 
the six months ended 30 June 2010. 
 
 
Highlights: 
 
·     Revenue at GBP11.5m up 19% - more than reversing the 15% fall experienced 
last year 
 
·     Profit before tax of GBP192,000 (Jun-09: loss of GBP966,000) 
 
·     Interim dividend increased by 50% to 1.5p per share (Jun-09: 1.0p) 
 
·     Debt reduced while working capital has been increased to support growth 
 
 
 
Commenting on the results, Chairman, Richard Clothier said: 
 
"It is pleasing to see a return to growth with revenues ahead 19% compared to 
the same period last year. The business has broadly broken even in our 
seasonally lower first half and, despite market conditions remaining uncertain, 
we look forward to reporting progress at the end of the full year. As an 
indication of our confidence in the outlook, the interim dividend has been 
restored to its previous level. 
 
During the period Robinson has won a number of new contracts and our operation 
in Poland continues to make strong progress." 
 
 
About Robinson 
Based in Chesterfield, with additional manufacturing facilities in 
Kirkby-in-Ashfield and Stanton Hill (Nottinghamshire) in Lodz (Poland) and in 
Toronto (Canada), Robinson currently employs around 350 people. It was formerly 
a family business, with its origins dating back some 165 years. Today the 
Group's main activities are in the manufacture and sale of injection moulded 
plastic and rigid paperboard packaging. Robinson operates primarily within the 
food, drink, confectionery, cosmetic and toiletry sectors, providing niche or 
custom manufacture to major players in the fast moving consumer goods market, 
such as Proctor & Gamble, Nestlé, Kraft, United Biscuits, Northern Foods, 
Masterfoods, Bakkavor, Unilever, Avon, Boots and Dr Oetker. The Group also has a 
substantial property portfolio with significant development potential. 
 
 
 
For further information, please contact: 
 
+-----------------------------------------+---------------------------+ 
| Adam Formela, Chief Executive, Robinson |              01246 505196 | 
| plc                                     |                           | 
+-----------------------------------------+---------------------------+ 
| Guy Robinson, Finance Director,         | www.robinsonpackaging.com | 
| Robinson plc                            |                           | 
+-----------------------------------------+---------------------------+ 
|                                         |                           | 
+-----------------------------------------+---------------------------+ 
| Nick Tulloch, Arbuthnot Securities      |             020 7012 2000 | 
| Limited                                 |                           | 
| Paul Gillam, Arbuthnot Securities       |                           | 
| Limited                                 |                           | 
+-----------------------------------------+---------------------------+ 
 
 
 
Robinson plc, Chesterfield, S40 2PH, UK.            Registered number 39811 
(England)        AIM code "RBN" 
CHAIRMAN'S STATEMENTSix months ended 30 June 2010 
 
 
I am pleased to report that revenues in the first half have grown by 19% 
compared with 2009. Taking both 2008 and 2009 together, despite rather 
indifferent market conditions and after adjusting for raw material price 
effects, volumes have recovered to pre-recession levels. The growth in revenues 
this year has been across all our business units with the exception of the 
paperboard plant in Toronto. Revenues from this unit fell by 30% while revenues 
in Central Europe rose by 40%. This underlines our strategy of focusing upon 
growing our business in Europe. 
 
Margins have also recovered despite plastic polymer prices reaching an all time 
peak due to supply plant capacity issues. Continental polymer prices have lately 
started to ease and we expect this to spread to Central Europe and the UK during 
the second half. 
 
Operating costs were 12% lower but this is mainly attributable to the impact of 
foreign exchange rates on current account balances.  However, the result is a 
small profit at operating level which is an improvement of over GBP1 million 
compared with the previous year. 
 
Interest rates have remained low and this has kept financing costs down. The 
pension fund remains in surplus and the benefit of this continues to be shown in 
the Group Income Statement in accordance with current accounting regulations. 
The resulting profit before tax for the period was GBP0.2m (Jun-09: loss of 
GBP1.0m). 
 
Despite working capital being GBP1.6m higher, due largely to the higher level of 
trading in the second quarter, net borrowings are GBP0.4m lower than a year ago. 
 Capital spending has been at a modest level so far this year. 
 
The market conditions for the rest of this year remain demanding especially with 
retail sales showing signs of moderation.  We do not anticipate our main 
business sectors to be badly affected this year but the run up to Christmas is 
an important time for the packaging industry and any overstocking would have an 
impact on early 2011 revenues. We remain optimistic that we will be able to show 
good progress with both revenue growth and profit improvement by the end of the 
year.  As a result the Board has concluded that an interim dividend of 1.5p 
(Jun-09: 1.0p) will be paid on 1 October 2010 to shareholders on the register at 
3 September 2010. 
 
 
 
+------------------------+------------------------+------------------------+ 
| Richard Clothier       |                        |         24 August 2010 | 
+------------------------+------------------------+------------------------+ 
| Chairman               |                        |           Robinson plc | 
+------------------------+------------------------+------------------------+ 
Robinson plc 
 
Group Income Statement 
 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
|                                      |       |          |    Unaudited |    Unaudited |  Audited | 
|                                      |       |          |   six months |   six months |  year to | 
|                                      |       |          |           to |           to | 31.12.09 | 
|                                      |       |          |     30.06.10 |     30.06.09 |          | 
+--------------------------------------+-------+----------+--------------+--------------+----------+ 
|                                      |Notes  |          | GBP'000 |    | GBP'000 |    |  GBP'000 | 
|                                      |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
|                                      |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Revenue                              |       |          | 11,519  |    |  9,651  |    |  23,425  | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Cost of sales                        |       |          | (9,555) |    | (8,496) |    | (18,709) | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Gross profit                         |       |          |  1,964  |    |  1,155  |    |   4,716  | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Operating costs                      |       |          | (1,956) |    | (2,227) |    |  (4,410) | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Operating profit/(loss) before       |       |          |      8  |    | (1,072) |    |     306  | 
| exceptional items                    |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Exceptional items                    |  2    |          |      -  |    |    (38) |    |      66  | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Operating profit/(loss) after        |       |          |      8  |    | (1,110) |    |     372  | 
| exceptional items                    |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Finance costs                        |       |          |    (52) |    |    (41) |    |     (92) | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Finance income in respect of pension |       |          |    236  |    |    185  |    |     374  | 
| fund                                 |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Profit/(loss) before taxation        |       |          |    192  |    |   (966) |    |     654  | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Taxation                             |  3    |          |    (88) |    |    (84) |    |    (230) | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Profit/(loss) after taxation         |       |          |    104  |    | (1,050) |    |     424  | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
|                                      |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Earnings/(loss) per ordinary share   |  4    |          |   0.7p  |    |       ( |    |     2.7p | 
| (basic and diluted)                  |       |          |         |    |    6.6p |    |          | 
|                                      |       |          |         |    |       ) |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
|                                      |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
|                                      |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Statement of comprehensive income    |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
|                                      |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Profit/(loss) for the period         |       |          |    104  |    | (1,050) |    |     424  | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Other comprehensive income           |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Actuarial (loss)/gain on retirement  |       |          |   (100) |    |    (59) |    |      69  | 
| benefit obligations                  |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Currency translation loss            |       |          |   (302) |    |   (622) |    |    (182) | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
|                                      |       |          |   (402) |    |   (681) |    |    (113) | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Taxation relating to actuarial       |       |          |     28  |    |    (17) |    |     (20) | 
| loss/(gain)                          |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Other comprehensive expense for the  |       |          |   (374) |    |   (698) |    |    (133) | 
| period                               |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
| Total recognised (expense)/income    |       |          |   (270) |    | (1,748) |    |     291  | 
| for the period                       |       |          |         |    |         |    |          | 
+--------------------------------------+-------+----------+---------+----+---------+----+----------+ 
 
Robinson plc 
 
Group Balance Sheet 
 
 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          | Unaudited |          | Unaudited |          |  Audited | 
|                                |     |          |       six |          |       six |          |  year to | 
|                                |     |          | months to |          | months to |          | 31.12.09 | 
|                                |     |          |  30.06.10 |          |  30.06.09 |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          |   GBP'000 |          |   GBP'000 |          |  GBP'000 | 
|                                |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Non-current assets             |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Property, plant and equipment  |     |          |   12,406  |          |   12,991  |          |  13,237  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Deferred tax assets            |     |          |      342  |          |      197  |          |     344  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Pension asset                  |     |          |    6,996  |          |    6,808  |          |   6,996  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          |   19,744  |          |   19,996  |          |  20,577  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Current assets                 |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Inventories                    |     |          |    2,018  |          |    1,951  |          |   1,535  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Trade and other receivables    |     |          |    5,779  |          |    4,763  |          |   5,708  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Cash                           |     |          |      158  |          |      172  |          |     334  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          |    7,955  |          |    6,886  |          |   7,577  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Non-current assets held for    |     |          |    2,782  |          |    2,954  |          |   2,782  | 
| sale                           |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Total assets                   |     |          |   30,481  |          |   29,836  |          |  30,936  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Current liabilities            |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Trade and other payables       |     |          |   (4,182) |          |   (4,731) |          |  (5,341) | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Corporation tax payable        |     |          |     (204) |          |     (184) |          |    (218) | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Borrowings                     |     |          |   (3,321) |          |   (3,815) |          |  (1,897) | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          |   (7,707) |          |   (8,730) |          |  (7,456) | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Non-current liabilities        |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Borrowings                     |     |          |   (1,084) |          |     (965) |          |  (1,290) | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Deferred tax liabilities       |     |          |   (1,574) |          |   (1,419) |          |  (1,578) | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Provisions                     |     |          |     (194) |          |     (199) |          |    (194) | 
|                                |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          |   (2,852) |          |   (2,583) |          |  (3,062) | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Total liabilities              |     |          |  (10,559) |          |  (11,313) |          | (10,518) | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Net assets                     |     |          |   19,922  |          |   18,523  |          |  20,418  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
|                                |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Equity                         |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Share capital                  |     |          |       80  |          |       80  |          |      80  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Share premium                  |     |          |      419  |          |      419  |          |     419  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Capital redemption reserve     |     |          |      216  |          |      216  |          |     216  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Translation reserve            |     |          |      643  |          |      507  |          |     947  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Revaluation reserve            |     |          |    4,461  |          |    4,361  |          |   4,461  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Retained earnings              |     |          |   14,103  |          |   12,940  |          |  14,295  | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
| Equity attributable to         |     |          |   19,922  |          |   18,523  |          |  20,418  | 
| shareholders                   |     |          |           |          |           |          |          | 
+--------------------------------+-----+----------+-----------+----------+-----------+----------+----------+ 
 
Robinson plc 
 
Group cash flow statement 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|                                      | |          | Unaudited | | Unaudited |          |  Audited | 
|                                      | |          |       six | |       six |          |  year to | 
|                                      | |          | months to | | months to |          | 31.12.09 | 
|                                      | |          |  30.06.10 | |  30.06.09 |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|                                      | |          |   GBP'000 | |   GBP'000 |          |  GBP'000 | 
|                                      | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Cash flows from operating activities | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Profit/(loss) after taxation        | |          |      104  | |   (1,050) |          |     424  | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Adjustments for:                    | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Depreciation charges and write-down  | |          |      673  | |      745  |          |   1,477  | 
| of fixed assets                      | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Profit on disposal of land and       | |          |           | |      (44) |          |     (44) | 
| buildings                            | |          | -         | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Profit on disposal of non-current    | |          |           | |           |          |    (176) | 
| assets held for sale                 | |          | -         | | -         |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Profit/(loss) on disposal of other   | |          |       (3) | |        6  |          |          | 
| plant and equipment                  | |          |           | |           |          | -        | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Decrease in provisions              | |          |           | |           |          |      (5) | 
|                                      | |          | -         | | -         |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Other finance income in respect of   | |          |     (236) | |     (185) |          |    (374) | 
| Pension Fund                         | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Finance costs                       | |          |       52  | |       41  |          |      92  | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Taxation charged                    | |          |      103  | |       84  |          |     230  | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Non-cash items:                     | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Increase in net pension asset        | |          |      136  | |      126  |          |     255  | 
| charged to operating                 | |          |           | |           |          |          | 
|    profit                            | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|    Cost of share options             | |          |       16  | |       15  |          |      32  | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Operating cash flows before          | |          |      845  | |     (262) |          |   1,911  | 
| movements in working capital         | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  (Increase)/decrease in inventories  | |          |     (483) | |     (211) |          |     205  | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| (Increase)/decrease in trade and     | |          |     (116) | |    2,374  |          |   1,323  | 
| other receivables                    | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Decrease in trade and other          | |          |   (1,256) | |   (2,101) |          |  (1,476) | 
| payables                             | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Cash (used in)/generated by          | |          |   (1,010) | |     (200) |          |   1,963  | 
| operations                           | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  UK corporation tax received/(paid)  | |          |       12  | |      (15) |          |    (143) | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Interest paid                       | |          |      (50) | |     (101) |          |    (158) | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Net cash (used in)/generated from    | |          |   (1,048) | |     (316) |          |   1,662  | 
| operating activities                 | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Cash flows from investing activities | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Sale of surplus properties          | |          |           | |       64  |          |      67  | 
|                                      | |          | -         | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Sale of non-current assets          | |          |           | |           |          |     348  | 
|                                      | |          | -         | | -         |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Acquisition of property, plant &     | |          |     (117) | |     (386) |          |    (841) | 
| equipment                            | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Disposal of other tangible plant &   | |          |       17  | |       (6) |          |      14  | 
| equipment                            | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Net cash  used in investing          | |          |     (100) | |     (328) |          |    (412) | 
| activities                           | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Cash flows from financing activities | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Loans received                      | |          |           | |           |          |     415  | 
|                                      | |          | -         | | -         |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Loans paid                          | |          |     (203) | |     (279) |          |    (336) | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|  Dividends paid                      | |          |     (246) | |     (245) |          |    (384) | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Net cash used in from financing      | |          |     (449) | |     (524) |          |    (305) | 
| activities                           | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Net (increase)/decrease in cash and  | |          |   (1,597) | |   (1,168) |          |     945  | 
| bank overdrafts                      | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Cash and bank overdrafts at 1        | |          |   (1,155) | |   (2,100) |          |  (2,100) | 
| January                              | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Cash and bank overdrafts at end of   | |          |   (2,752) | |   (3,268) |          |  (1,155) | 
| period                               | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
|                                      | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Cash                                 | |          |      158  | |      172  |          |     334  | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Overdraft                            | |          |   (2,910) | |   (3,440) |          |  (1,489) | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
| Cash and bank overdrafts at end of   | |          |   (2,752) | |   (3,268) |          |  (1,155) | 
| period                               | |          |           | |           |          |          | 
+--------------------------------------+-+----------+-----------+-+-----------+----------+----------+ 
 
Robinson plc 
Notes to the Interim Report 
 
1.   Basis of preparation 
The interim report for the six month period to 30 June 2010 was approved by the 
directors on 24 August 2010. The interim financial information is not audited. 
 
The interim financial statements have been prepared in accordance with 
applicable accounting standards and under the historical cost convention except 
that they have been modified to include the valuation of certain financial 
assets and liabilities. The interim financial statements do not constitute 
statutory financial statements in accordance with section 435 of the Companies 
Act 2006.  The full year figures are derived from the statutory accounts on 
which the auditors gave an unmodified report.  The Group's statutory financial 
statements prepared under International Financial Reporting Standards (IFRS) as 
adopted by the European Union have been filed with the Registrar of Companies. 
 
2.   Exceptional items 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|                                          | Unaudited |          | Unaudited |          |  Audited | 
|                                          |       six |          |       six |          |  year to | 
|                                          | months to |          | months to |          | 31.12.09 | 
|                                          |  30.06.10 |          |  30.06.09 |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|                                          |   GBP'000 |          |   GBP'000 |          |  GBP'000 | 
|                                          |           |          |           |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|                                          |           |          |           |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
| Profit on disposal of non-current assets |           |          |           |          |          | 
| held for sale                            |         - |          |         - |          |     176  | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
| Profit on disposal of land and buildings |        -  |          |       44  |          |      44  | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
| Redundancy                               |        -  |          |      (82) |          |    (154) | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|                                          |        -  |          |      (38) |          |      66  | 
|                                          |           |          |           |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|                                          |           |          |           |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
 
3.   Taxation 
The taxation charge for the six months to 30 June 2010 has been calculated on 
the basis of the estimated effective tax rate on profits before tax for the year 
to 31 December 2010. 
 
4.   Dividends 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|                                          | Unaudited |          | Unaudited |          |  Audited | 
|                                          |       six |          |       six |          |  year to | 
|                                          | months to |          | months to |          | 31.12.09 | 
|                                          |  30.06.10 |          |  30.06.09 |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
| Ordinary:                                |   GBP'000 |          |   GBP'000 |          |  GBP'000 | 
|                                          |           |          |           |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|      Final                               |      246  |          |      244  |          |     244  | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|      Interim                             |           |          |           |          |     140  | 
|                                          | -         |          | -         |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|                                          |      246  |          |      244  |          |     384  | 
|                                          |           |          |           |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
|                                          |           |          |           |          |          | 
+------------------------------------------+-----------+----------+-----------+----------+----------+ 
 
5.   Earnings per share 
The calculation of earnings per ordinary share is based on the profit on 
ordinary activities after taxation (GBP104,000) divided by the weighted average 
number of shares in issue (15,943,501). 
 
6.   Interim Report 
Copies of the interim report are available from Robinson plc's registered 
office: Portland, Goyt Side Road, Chesterfield, S40 2PH, UK or from its website 
at www.robinsonpackaging.com. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 IR GMGZRFDVGGZM 
 

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