RPC Group PLC Pre Close Trading Statement (1288L)

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RNS Number : 1288L

RPC Group PLC

29 September 2016

29 September 2016

RPC Group Plc

Pre Close Trading Statement

RPC Group Plc ("RPC" or "Group"), the international plastic products design and engineering company, today issues a pre close trading statement for the period 1 April 2016 to 30 September 2016 ("first half" or "period"), ahead of its first half results announcement due to be published on 30 November 2016.

Trading performance

Revenues in the first half are projected to be significantly ahead of the same period last year, benefiting from the contribution of acquisitions and continued organic growth. The adjusted operating profit for the first half is also anticipated to be significantly ahead of last year due to organic growth, realisation of synergies, the part reversal of last year's polymer price headwind and a foreign exchange translation benefit.

The organisational integration of GCS has been completed and its overall trading performance is ahead of previous expectations. The acquisition of British Polythene Industries ("BPI") was completed in August and has been integrated into RPC as a sixth stand-alone division. Initial trading has been encouraging. The overall acquisition related cost synergies (steady state EUR80m related to Promens / GCS and GBP10m for BPI) are currently being reviewed to assess potential further upside.

The Group's financial position remains strong, with good cash flow development in the first half and it has significant headroom under its debt facilities.

Commenting on the first half performance, Pim Vervaat, RPC's Chief Executive, said:

"Our first half performance has been encouraging. We are delighted with our acquisition of BPI and we can see real potential for this business as part of the Group. Looking forward, further opportunities to grow and enhance RPC's overall position are actively being pursued in line with our Vision 2020 strategy."

For further information:

 
 RPC Group Plc       01933 410064    FTI Consulting     020 3727 1340 
 Pim Vervaat, Chief Executive        Richard Mountain 
 Simon Kesterton, Group Finance      Nick Hasell 
  Director 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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September 29, 2016 02:00 ET (06:00 GMT)