REG - Robinson PLC - AGM Trading Statement

RobinsonAnnouncement

Thu 07:00

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RNS Number : 6829J  Robinson PLC  22 May 2025

Robinson
plc

22 May 2025

AGM TRADING STATEMENT

Robinson plc ("Robinson", the "Company" or the "Group"; stock code: RBN), the
custom manufacturer of plastic and paperboard packaging, is holding its Annual
General Meeting today at 11:30am at the Peak Edge Hotel, Darley Road,
Chesterfield S45 0LW. The Chairman, Alan Raleigh, will make the following
statement:

 

Current trading

 

"Sales volumes in the first four months of the year are 1% above the same
period in 2024. Including the effect of sales price and foreign exchange
movements, Group revenue is 3% above the same period in 2024.

 

Sales volume in the UK business in the year to date has been strong as a
result of new projects implemented in the previous 12 months, particularly in
PET bottles. This growth has been largely offset by a reduction in volume in
our Denmark operation, where we have seen significantly lower and more
volatile demand from our larger customers and overall conditions remain
challenging.

 

Underlying operating profit* in the first four months of 2025 was in line with
the same period in 2024.

 

Property

 

We are continuing to pursue the sale of surplus properties in Chesterfield.
Subject to the necessary approvals, we would expect further sales of surplus
property to be achieved in 2025.

 

Based on professional independent valuations, the Directors estimate that the
current market value of surplus properties is approximately £7.4m, and this
includes the previously announced c.1.3 acres of Walton Works where exchange
of contracts has occurred, and completion remains subject to satisfactory
agreement of costs.

 

Net debt

 

Net debt at 30 April 2025 increased to £7.3m (31 December 2024: £5.9m),
including £1.5m of capital expenditure.

 

Outlook

 

Our close partnerships with major FMCG customers have generated an improved
sales pipeline, and our strategy of widening this blue-chip customer base is
generating further substantial opportunities, including important projects
that are now close to fruition in new market sectors.

 

Under the new leadership of John Melia, we are in the process of refining and
sharpening our strategy, to ensure we continue to prioritise profitable growth
in attractive market sectors with leading customers.

 

Through further property disposals and improved business performance, the
Board anticipates strong cash generation to support continued profitable
growth.

 

The Company continues to expect underlying operating profit* for the 2025
financial year to be ahead of 2024 and in line with current market
expectations. We remain committed in the medium-term to delivering
above-market profitable growth and our target of 6-8% underlying operating
margin**."

 

For further information, please contact:

 

 Robinson plc                                   www.robinsonpackaging.com (http://www.robinsonpackaging.com)
 John Melia, CEO                                Tel: 01246 389280

 Mike Cusick, CFO

 Cavendish Capital Markets Limited
 Ed Frisby / Seamus Fricker, Corporate Finance  Tel: 020 7220 0500

 Tim Redfern, Corporate Broking

 

About Robinson:

 

Being a purpose-led business, Robinson specialises in custom packaging with
technical and value-added solutions for food and consumer product hygiene,
safety, protection, and convenience; going above and beyond to create a
sustainable future for our people and our planet. Its main activity is in
injection and blow moulded plastic packaging and rigid paperboard luxury
packaging, operating within the food and beverage, homecare, personal care and
beauty, and luxury gift sectors. Robinson provides products and services to
major players in the fast-moving consumer goods market including Procter &
Gamble, Reckitt Benckiser, SC Johnson and Unilever.

 

Headquartered in Chesterfield, UK, Robinson has plants in the UK, Poland and
Denmark. Robinson was formerly a family business with its origins dating back
to 1839, currently employing nearly 400 people. The Group also has a
substantial property portfolio with development potential.

 

* Operating profit before other items

** Operating profit margin before other items

 

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