Share Name Share Symbol Market Type Share ISIN Share Description
RPC Group LSE:RPC London Ordinary Share GB0007197378 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  +5.40p +0.68% 794.00p 1,775,299 16:35:18
Bid Price Offer Price High Price Low Price Open Price
791.40p 792.00p 798.00p 786.60p 790.80p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Industrials 3,747.70 316.60 61.60 12.9 3,237.1

RPC Group (RPC) Latest News (13)

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RPC Group (RPC) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-11-19 18:45:01795.70539.78O
2018-11-19 18:29:09794.0033,674267,371.56O
2018-11-19 18:28:38794.002,91723,160.98O
2018-11-19 18:28:35794.0053,499424,782.06O
2018-11-19 18:28:17791.8439,153310,028.72O
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RPC Group (RPC) Top Chat Posts

DateSubject
19/11/2018
08:20
RPC Group Daily Update: RPC Group is listed in the General Industrials sector of the London Stock Exchange with ticker RPC. The last closing price for RPC Group was 788.60p.
RPC Group has a 4 week average price of 724.60p and a 12 week average price of 680p.
The 1 year high share price is 1,032p while the 1 year low share price is currently 642.40p.
There are currently 407,699,202 shares in issue and the average daily traded volume is 2,247,129 shares. The market capitalisation of RPC Group is £3,237,131,663.88.
05/11/2018
15:51
whatsyourgame: Just googled RPC Group and there's little or nothing in the media about today's announcement ... surprising really, given the company's considerable size and its recent somewhat controversial past. What do people here think are the upside and downside prospects for the share price from where we are now? My guess is that the upside is around 1075p per share, assuming a cash offer at that level is forthcoming. On the downside, I reckon the share price could fall to around 675p, firstly on the back of disappointment at no offer materialising, coupled with uninspiring, albeit broadly satisfactory interim results. Based on the current share price of 787p, that's + 288p on the upside and -112p on the downside. Another way of interpreting such numbers is that there is currently a 28% chance of a bid materialising and a 72% chance of no such offer being forthcoming. You pays your money ... etc.
05/11/2018
13:42
jeffian: squidsgone, "the question is why would that be wanted/needed by the BoD - particularly if the upcoming fundamentals would do the same job only for real?" Upcoming? Not until 28/11, and the share price had gone into headlong, and accelerating, decline prior to the RNS of 10/9. Why would the BoD want to guard against an uncontrolled share price collapse? Well, where do I start...?! Answer me this; what do you think was the purpose of this highly unusual announcement and why would the main shareholder have made it? hTTp://www.morningstar.co.uk/uk/news/AN_1532342401017797600/press-standard-life-aberdeen-thinks-rpc-vulnerable-to-takeover.aspx Look, I don't know any more than anyone else here what the outcome will be. I'm sure that it would suit Management very well for RPC to be taken private and they would probably have a vested interest, so I'm sure they are exploring that possibility, but all the running in this has been made by the target, not the bidders, so it wouldn't surprise me if nothing comes of it, that's all.
05/11/2018
12:18
jeffian: #2320, "stop making them"? It's a chatroom, for goodness' sake! Anyone can say what they want, to be considered, rejected or even filtered if you don't like it. "why would the BoD need a ploy to support it in the short term?" Look where the graph was heading before the announcement. It's even clearer on the 2-year graph in the header. Rightly or wrongly, the share price was in danger of going into freefall. The 'bid talk' - all instigated by the company, note - has certainly stabilised it at around the £8 mark. In the longer term, the board can only counter the doubts raised by Northern Trust - which are the root cause of the share price collapse - by proving them wrong, which means trimming the 'exceptional' costs and showing that the underlying business is growing, profitable and cash generative. The interims are the next opportunity to show that and, hopefully, confirm that the company is cheap on fundamentals alone, but without the RNS on 10 September, you would probably now be looking at a share price either side of £6 rather than £8.
23/10/2018
15:00
jeffian: Agree absolutely, Phillis, and that's exactly what they should be doing. squidsgone, The share price had been in pretty continuous decline since the highs of early 2017 and by July 2018 it was in danger of going into freefall, plunging to c.£6. Look at the chart below and spot the following. The first unusual statement was made by the Chairman at the AGM Trading Update on 18/7/18 when he made a Delphic allusion to "resolving" the weak share price caused by shareholders not supporting his acquisition strategy. That was widely interpreted as putting the company "in play". This was followed on 22/7 by a Daily Telegraph article reporting major shareholder Standard Life saying the weak share price made RPC vulnerable to a bid. Then on 10/9 we had the 'response to press speculation' RNS talking about "preliminary discussions" which "may or may not" lead to a bid. It buys them time (during which they hopefully continue to pump out the figures and eventually the fundamentals overcome the NT innuendo). Sure, a 'bid talk off' announcement will unsettle the share price but we're now only a month away from the Interims, so they have a chance to show that actual performance outweighs speculation and innuendo. If no bid materialises, it doesn't give "substantiation to NT suggestions". To my mind it would just confirm that it was never on in the first place, as I said at the time.
20/9/2018
10:31
jeffian: This whole 'bid' thing is a complete red herring and I wish it had never started. Until Northern Trust began their de-stabilisation campaign, there was no question of a takeover (quite the reverse, in fact, as RPC's strategy is specifically growth by acquisition/consolidation in a fragmented market) and it only came about as a result of the Chairman, egged on by large shareholder Standard Life, seeking to support the share price. Frankly, I think the whole Private Equity 'interest' was cooked up and has every chance of going nowhere which will further destabilise the share price. In the meantime, it takes the focus of the BoD away from their proper role - running the company. I would like to see the whole thing knocked on the head on 8/10, take any short-term pain in the share price, and then get back to growing profits, earnings and dividends which is what has made this company such a great long-term hold.
05/9/2018
15:12
cashcow5: From Motley Fool (4/9/18) "Plastic fantastic Now Assura doesn’t come cheap, the firm sporting a forward P/E ratio of 19.7 times, which sits outside the widely-regarded value territory of 15 times and below. Whilst I reckon its leading position in this particular defensive medical market warrants a ‘lively’ premium, investors on the hunt for classic value may be more interested by RPC Group (LSE: RPC) which carries a prospective earnings multiple of 9.2 times. Although concerns over the way the company funds acquisitions has weighed on its share price more recently, I believe that these fears are now baked into the plastics packager’s rock bottom valuation. The FTSE 250 play has pruned its operations and divested non-essential divisions to boost its balance sheet to help it continue on its M&A-led growth path in recent times too. Moreover, whilst fears over plastics regulations from the EU have also put a dampener on investor appetite in 2018, RPC’s drive to develop its products with customers in line with modern environmental concerns should still provide the scope for it to keep winning plenty of business. Dividends have risen for 25 consecutive years over at RPC, culminating in a reward of 28p per share for the year ended March 2018. It’s no surprise that expectations of further profit growth (of 5% this year and 7% next year) lead the City to anticipate extra significant payout growth as well. A 30.2p reward is anticipated for the current fiscal year, meaning a chunky yield of 4.3%. And in fiscal 2020 the dial moves to 4.7% thanks to the predicted 32.5p dividend. RPC remains a stock to buy today and hold for years, in my opinion."
29/7/2018
05:43
sogoesit: “More Notes on RPC” from this week’s IC: “In last week’s Telegraph, Tom Rees noted recent speculation that RPC (RPC) could become a target for private equity firms given its shares have been on a downward trajectory since the final quarter of 2017. That the plastic packager should end up in the crosshairs isn’t all that surprising, though ironic given that its perceived weakness in some quarters is down to an acquisition spree – 10 deals in a little over 12 months – which critics of the group, specifically broker Northern Trust Capital Markets, said had masked disappointing capital returns and cash flows. Or as Paul Moran, head of research, describes it: “stripping out losses that are embedded in acquisitions in the [profit and loss account (P&L)] post consolidation mostly through provisions (cash losses, not P&L) and claiming this as growth”. Ostensibly, there wasn’t much to spook investors in RPC’s March year-end figures, with total provisions and other liabilities down 44 per cent year on year to £90.6m, while net cash flows from operating activities were up 40 per cent to £387m. Despite the surge of M&A activity, the group maintains that returns remain well ahead of the weighted average cost of capital. But the accounting treatment that Mr Moran has been highlighting, namely the application of provisions for off-market contracts, enables companies to mask or distort returns through the creation of provisions on the balance sheet for acquired assets at the time of consolidation. Theoretically, this practice can hide a multitude of sins if a company remains in the buyers’ circle and the treatment is employed repeatedly. But if the acquisitions dry up it should be easier to determine the effects of this treatment on cash flows. RPC has previously stated that the dilutive effects of lower-margin acquisitions had periodically weighed on profitability; a more prosaic explanation, but one that’s just as difficult to quantify within the confines of a P&L statement. Paul Moran did make the point that the recent first-quarter update referenced profits growing year on year, but not cash flows. At the March full-year, those flows had been underpinned by an adjusted operating cash conversion rate of 77 per cent, although that was down from 95 per cent in the previous year. Jamie Pike, chairman of RPC, complained that the group’s ability to pursue acquisitions is being hampered by “pressure on the market valuation and differing investor views on the appropriate level of leverage”. In other words, the Northern Trust critique has gained wider support. If deals dry to a trickle, Mr Moran expects that a negative free cash flow trend could be apparent in the group first-half returns published in November. That would follow on from a 4 per cent decline in free cash flow at the year-end, although it’s conceivable that ongoing plans to hive off non-core businesses could eventually muddy the waters in this regard.“ IC View The IC was told that management at RPC wasn’t prepared to comment on the speculation, which will obviously do nothing to quash it, but we would have thought that any interest on the M&A front would have come from an industry peer, at least an entity with a complementary business model and sufficient scale to pursue a tie-up – Australian Securities Exchange (ASX)-listed Amcor (ASX:AMC) readily springs to mind. You could always take a speculative option if you think RPC will fall victim to industry-wide consolidation, but the current share price is around 84 per cent in advance of the broker’s fair value estimate of 430p a share, based on 10 times its free cash flow estimate for 2019.”
06/6/2018
16:50
jeffian: I'm with Hargreaves Lansdowne and this is what they have to say about it, FWIW. "Our View Plastic packaging manufacturer RPC has been under pressure to prove its long-running acquisition programme is creating value for shareholders, and not masking a lacklustre operating performance. Management have put a hold on acquisitions while it deals with those concerns. So far, we think the results are good. Organic growth is healthy and exceptional integration costs, the focus of much of the investor discontent, are falling. From an operations perspective the company looks healthy, and the group looks set to maintain its 25-year track record of dividend growth. Unfortunately the share price hasn't reflected the improvement. That's partly because RPC is facing new pressures. This time from regulation. Following the airing of 'Blue Planet', the UK government has faced calls to tighten up rules on plastic waste. The EU has followed suit, and is already tightening controls. RPC argues that it's well placed to weather the political turbulence, and could even benefit. The group is Europe's leading recycler of polyethylene film and the majority of its products are recyclable. Its focus on innovation should mean it can respond quickly to demand for more easily recyclable products. It says its innovation centres are actively researching renewable polymers and compostable materials that break down completely when treated correctly at the end of their life. We think RPC's scale and focus on innovation are significant advantages. However, it's unlikely the group would escape a crackdown on plastic completely unscathed. Nonetheless we remain upbeat about RPC's prospects. Plastics are a key weapon in fighting that other environmental bogeyman, carbon emissions, and RPC is well-placed to benefit from the consolidation the sector as well as increased demand. Prior to full year results the shares offered a prospective yield of 4%, and traded on 10 times expected earnings, well below their longer-term average. But with the public mood firmly against plastics at the moment, investors will need a change in sentiment before the shares recover. How long that will take is anyone's guess."
06/6/2018
07:42
jonwig: Not a holder, but price now looks interesting! here's the FT Opening Quote e-mail: A regulatory crackdown on single-use plastics, in the UK and in Europe, has raised many questions. Last Wednesday, with much of the City on its half-term holiday, the main one was: “If straws have to be made out of paper from now on, can you still get bendy ones - or will they just go soggy?” A very good question - and one that stumped this commentator. But, today, with FTSE 250 packaging group RPC reporting full-year results, it’s more a case of: will its profits and revenues hold up… or will they just go soggy? And, this morning, RPC has not been stumped. It has reported a 36 per cent rise in revenues, driven by acquisitions, which led to a commensurate 36 per cent rise in adjusted pre-tax profit, to £389m. Its most recent deal was the €75m acquisition of Nordfolien, which completed after the year end. On a statutory basis, pre-tax profit actually doubled to £317m - reflecting a “significant reduction in adjusting items” in the past year. But revenues also grew organically, by 2.8 per cent, continuing RPC’s recent record of increasing its sales by around 3 per cent a year, excluding acquisitions. In China, organic revenue growth was 26 per cent, helping to lift revenues outside Europe to £831m, from £384m previously - now 22 per cent of the group total. Cash flow generation was “robust”, too, with net cash flows from operating activities up 40 per cent to £386.7m. But free cash flow was lower than the prior year, at £229m, due to the “non-repeatability of working capital related cash synergies”. Much of this improvement had been expected after a trading update in late March said the positive trading trends outlined in its third quarter update had continued, and revenue for the full year “is expected to have grown significantly versus last year, driven by organic growth and aided by acquisitions, polymer price and foreign exchange tailwinds”. Back then, RPC had also flagged that profitability and cash generation - before and after exceptional items - were set to meet management expectations. However, that was not enough to reverse a 20 per cent fall in RPC’s share price since the end of September, after governments and regulators stepped up their fight against plastic waste. As one of Europe’s largest manufacturers of plastic packaging, the market has expected RPC’s businesses to be directly affected. Recent EU proposals target single-use plastics, such as cutlery and straws, and calls for all plastic bottles to be recycled by 2025. So, today, it is the outlook that investors will be drinking in, not last year’s performance. RPC chief executive Pim Vervaat insisted the group was well placed to benefit from opportunities driven by the recent sustainability trends, and from e-commerce. He said RPC was still expecting “through the cycle underlying organic growth” to be ahead of GDP growth, and adjusted operating profit in the core businesses to improve - but more slowly. RPC expects it be about about £50m higher, but only by the financial year ending March 2021. Some analysts agree. Hargreaves Lansdown reckons that, longer term, RPC’s focus on innovative design should mean it is well placed to weather a more difficult plastics environment. Tougher regulation may even improve its position relative to smaller competitors.
09/2/2017
15:11
gibson59: Hi, as a complete newcomer to shares... could some explain why RPC share price has fallen today following this morning's announcement?Thanks!
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