RPC H1 revenue to be higher
Shares in RPC Group jumped after it revealed its half-year revenues are expected to be "significantly" ahead of the same period last year thanks to recent acquisitions and growth in the US, coffee capsules and UK DIY markets.
RPC Group
792.60p
17:00 28/06/19
It said its operating profit before exceptionals is set to be in line with previous expectations, despite ongoing foreign exchange translation headwinds and an adverse time lag in passing through polymer prices.
The group also reported that its 'fitter for the future' programme was well-advanced and that it has entered into agreements to sell two sheet businesses in Lokeren and Montonate.
Chief executive Pim Vervaat said: "The performance for the first half year is encouraging against the backdrop of a continuing challenging economic environment in the Eurozone.
"We continue to focus on delivering organic growth whilst also looking for opportunities to further benefit from the ongoing consolidation in the European rigid plastic packaging industry and the globalisation trend in higher added value products."
Its financial position continued to be strong.