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    Date: Wednesday 20 Aug 2008

    LONDON (ShareCast) - Packaging firm Robinson expects a further increase in profits in the second half of 2008 despite strong pressure on margins.

    Profit before tax in the first half of 2008 fell to £0.13m from £1.1m in the first half of last year, when the company’s profitable performance was entirely due to an exceptional profit on the disposal of non-current assets.

    Revenue eased to £11.3m from £12.1m, as the plastics division saw a fall of almost £2m in turnover as the group withdrew from low margin activities.

    The delayed transfer of production to the group’s Polish factory also hit demand.

    Revenue in the paper board businesses grew by £1m, with both the UK and North American arms gaining new business.

    The proposed sale of the Walton Works site in Chesterfield is on hold following the slump in the UK housing market.

    The group expects, as usual, to see higher revenues in the second half of the year but anticipates increasing raw material costs will continue to put pressure on margins.

    “The group's establishment in Poland continues to provide the scope for profitable growth,” said Richard Clothier, Robinson’s chairman.

    “Overall, we expect continued improvement in the profitability of the business,” Clothier added.

    The interim dividend has been maintained at 1.5p.

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