REG - Robinson PLC - Final Results
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RNS Number : 4018V Robinson PLC 05 March 2026
Robinson
plc
5 March 2026
Final Results for the year ended 31 December 2025
Robinson plc ("Robinson", the "Company" or the "Group" stock code: RBN), the
custom manufacturer of plastic and paperboard packaging, is pleased to
announce its audited results for the year ended 31 December 2025.
Financial highlights
· Underlying operating profit* increased to £3.6m (2024: £3.2m)
· Revenue down 0.4% to £56.2m (2024: £56.4m)
· Gross margin increased to 22% (2024: 20%)
· Other items income of £0.1m (2024: costs of £6.3m)
· Profit before tax of £3.0m (2024: loss of £3.8m)
· Net debt of £5.4m (2024: £5.9m)
· Final dividend of 3.5p (2024: 3.5p) per share. Total dividend of 6.0p
(2024: 6.0p)
Operational highlights
· £1.0m of surplus property disposal proceeds and significant progress
on the remainder
· Refreshed Group strategy focusing on customer centricity, operational
excellence, and sustainability partnering
· Updated goals and strengthened approach to sustainability
Alan Raleigh, Chairman, commented:
"In 2025, the Group delivered resilient financial performance despite mixed
market conditions. Strong volume growth in our UK businesses, improved gross
margins and enhanced operational efficiency contributed to an increase in
underlying operating profit.
Continued progress on our strategic agenda, including strengthened
sustainability commitments and the development of an organisation structure to
drive growth and profitability, provides a solid platform for long‑term
value creation.
We expect underlying operating profit for the 2026 financial year to be in
line with current market expectations. In addition and as previously
announced, reported profit before tax in 2026 is expected to benefit
materially from property disposals."
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
Ella Bedford, 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, Homecare, Personal care, and Luxury gift
sectors. Robinson provides products and services to major players in the
fast-moving consumer goods market including Bakkavor, British Pepper &
Spice, McBride, Persan, Procter & Gamble 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 has an ongoing
disposal programme for its substantial surplus property portfolio with
development potential.
* Operating profit before other items
The information contained within this announcement is considered by the
Company to contain inside information for the purposes of UK MAR. Upon the
publication of this announcement via a Regulatory Information Service, this
inside information will be considered to be in the public domain.
Chairman's statement
Financial performance
2025 revenues were £56.2m, which was £0.2m below 2024. Strong growth in
volume in the UK Plastics and Paperbox businesses was more than offset by
weaker demand and the loss of some contracts in Denmark and Poland. With a
gross margin increase of 2%, underlying operating profit* increased to £3.6m
(2024: £3.2m).
Including income from Other items of £0.1m (2024: cost of £6.3m, including
£3.7m of non-Company pension closure costs; £0.6m amortisation of intangible
assets; and £1.7m impairment of goodwill and intangible assets related to the
Denmark operation), the Group made a profit before tax of £3.0m (2024: loss
before tax £3.8m).
Dividend
The Board proposes a final dividend of 3.5p per share to be paid on 19 June
2026 to shareholders on the register at the close of business on 5 June 2026.
The ordinary shares become ex-dividend on 4 June 2026. This brings the total
dividend declared for 2025 to 6.0p (2024: 6.0p).
Strategy
As planned, our CEO, John Melia completed a comprehensive review of Robinson's
strategy during 2025, with the objective of delivering sustainable revenue
growth and enhancing profitability over the long term. The Strategic Report of
the Annual Report and Accounts outlines an updated Robinson purpose, refreshed
values and ways of working, together with a clear articulation of the markets
in which the Group will compete and how it will create value for our
shareholders. Within that report, our sustainability strategy, which is
central to our market position, has also been strengthened.
The Group will continue to work in partnership with brand owners and contract
manufacturers across the Food, Personal care and Homecare sectors throughout
Europe, providing packaging solutions that support brand differentiation,
ensure product protection and deliver essential consumer functionality.
We remain committed to collaborating closely with customers who share our
ambition for leadership in sustainability and the circular economy. Across the
organisation, we will leverage newly developed capabilities to further reduce
the quantity of plastic used in our products, increase the use of recycled
materials where technically and economically viable, and operate increasingly
sustainable and efficient supply chains.
People and organisation
As part of the refreshed Group strategy, the Robinson plastics businesses will
implement a new leadership organisation in 2026. This transition will involve
moving from a regionally based model, with locally led country operations, to
a functionally aligned organisational structure supported by new ways of
working. I look forward to engaging with a newly constituted executive
leadership team as they guide our commercial and operational functions to
deliver meaningful growth and improved cost efficiency over the next five
years.
The Board extends its sincere appreciation to all Robinson colleagues for
their continued dedication and the significant contribution they make to the
Group's progress and achievements.
During the year the Board was saddened to learn of the death of a former Board
colleague and friend, Anthony Glossop. Anthony served as a Non-executive
Director of the Company for 26 years. We send our condolences to Anthony's
family.
Shareholder engagement
Over the past 12 months, discussions with investors have focused primarily on
the implications of global geopolitical conflicts, the development and
application of bioplastics and recycled materials, advancements in data and
artificial intelligence, and our dividend policy. These matters are covered
within this report.
We welcome discussion with both existing and prospective investors and look
forward to meeting shareholders at the Annual General Meeting on 21 May 2026.
Outlook
We expect underlying operating profit for the 2026 financial year to be in
line with current market expectations. We expect progress in revenue and
profits in our two UK business due to the effect of known new customer
projects, but conditions in Poland and Denmark are expected to remain
challenging, all as previously announced.
Notwithstanding an anticipated overall increase in revenue, the Company
continues to expect underlying operating profit* in 2026 to be slightly lower
than 2025, due to:
· Higher operating costs as we invest in the resources and capabilities
necessary to deliver the refreshed Group strategy which will support growth in
revenues and operating profits in 2027 and beyond, and
· Lower rental income following the disposal of surplus properties.
While it is too early to assess any potential impact from recent developments
in the Middle East, we will continue to monitor the situation. We remain
committed to delivering above-market profitable growth and our target of 6-8%
underlying operating margin**.
Reported profit before tax in 2026 is expected to benefit materially from
property disposals.
Alan Raleigh
Chairman
* Operating profit before other items
**Operating profit margin before other items
CEO's report
Underlying group performance
2025 sales volumes were 2.0% lower than 2024. Including the effect of foreign
exchange and sales prices revenues were 0.4% lower.
Gross margins were 2% above 2024 largely as a result of additional scale and
operational efficiency in the UK Plastics operation, supported by improved
material utilisation and reductions in process waste in Denmark. Inflation has
stabilised and we have seen reductions in some input costs. Despite no
substantial sales price increases in 2025, we have benefitted from the annual
effect of increases implemented during 2024.
Underlying operating costs were £8.9m (2024: £8.3m). The increase includes:
· £0.3m net cost of recruitment and employment of new heads, including
bringing new capabilities into the Group to execute the refreshed strategy;
· £0.2m increase in wages and salaries in response to market inflation
and mandatory minimum wage increases;
· £0.2m property and external storage costs due to the volume growth
in the UK business;
· £0.1m increase in legal, professional and audit costs; and
· the partial offset of £0.4m reduction in performance related pay
across the Group.
Business unit performance
Underlying Underlying
operating operating Capital Capital
Revenue Revenue profit** Profit** expenditure expenditure
2025 2024 2025 2024 2025 2024
£'000 £'000 £'000 £'000 £'000 £'000
UK 24,274 21,921 2,159 1,445 2,347 1,876
Poland 20,192 20,924 2,577 3,107 2,168 1,787
Denmark 11,744 13,565 (531) (671) 72 727
Head office - - (584) (686) 65 197
Group 56,210 56,410 3,621 3,195 4,652 4,587
In Poland, sales volumes decreased by 6% compared to 2024, largely due to
lower demand from our largest customers. We are starting to see some
challenges locally as customers are under severe pressure from their
shareholders and retailers to reduce their costs. As a result we are seeing
fewer growth projects, increased pressure on sales prices and the phase out of
some products. For example, we were notified during the year that one of the
key products that we produce for a major air-freshener brand was going to be
discontinued and reformatted in 2026. Despite the current market challenges,
the Polish business remains profitable with a very strong team and we have
confidence that there will be opportunities for growth in the near future. We
made significant progress on utilisation of recycled material during the year
as some of our customers, contract manufacturers in particular, experienced
increased demands for inclusion of recycled resin from the local retailers
they serve. We continued to invest in new equipment to improve the capability
and operational efficiency of the business in both injection and blow
moulding. Currency movements had a positive impact on Poland sales of 3%
(£0.6m) against the prior year.
In Denmark, sales volumes decreased by 14%. The local market for HDPE bottles
is highly commoditised, and competition is largely based on price. The need to
prioritise the large new project implemented in 2024 also led to short-term
service issues with some customers, resulting in the loss of some customer
contracts in the first half of 2025. The operational changes that we made 12
months ago, including recruitment of new employees in key positions helped to
improve the efficiency of the operation, but could not compensate fully for
the significant volume reduction and as a result the business made an
operating loss in the year. We are working to rebuild the sales pipeline with
former and new customers during 2026. Currency movements increased Denmark
sales by 1% (£0.2m) against the prior year.
In the UK Plastics business, sales volumes increased by 10% as we continued to
benefit from a very strong sales pipeline. More than 50% of this growth was in
PET bottles, where demand is high due to the excellent recyclability and
sustainability properties of this material versus other formats. We are
experiencing increasing customer interest in transitioning from glass and HDPE
packaging to PET formats, prompted not only by their sustainability
commitments, but also by the impact of Extended Producer Responsibility
legislation. In response, we have invested significantly in PET equipment over
the previous two years and plan to continue this approach in 2026 to deliver
further significant growth. We continue to expect a high profit drop-through
in this business as we focus on cost control whilst rebuilding the scale lost
in recent years.
In the UK Paperbox business, sales volumes increased by 11% as we saw
continued growth with two new customers we first started working with in 2024.
Despite a strong sales performance, machinery failure in the final quarter and
a consequent need to outsource some production led to profit being lower than
planned and in line with 2024. We have recently acquired more production and
storage space and made a decision to invest in additional equipment to take
advantage of an attractive pipeline of new opportunities in this market. With
this new production capacity installed, we anticipate the business will
contribute further to profits in 2026.
Other items, finance costs and taxation
A net income from Other items of £0.1m (2024: cost of £6.3m) was recognised
in the period, including:
· £0.2m (2024: £nil) income received from the insurers following the
flood event in Chesterfield;
· £0.4m (2024: £nil) profit on disposal of surplus properties;
· £0.4m (2024: £nil) impairment of plant and machinery in Denmark
after an operating loss in the year and associated reduction in future
forecast cashflows; and
· £0.1m of costs relate to the IFRS 2 charge on share options and
costs linked to future sales of surplus properties.
Finance costs were £0.7m (2024: £0.8m) as interest rates remain high across
the Group's countries of operation. Including these items, the profit before
tax was £3.0m (2024: loss of £3.8m).
Taxation for the year was a charge of £0.7m (2024: credit of £0.5m).
Cashflow, capital investment, financing, and pension scheme
Cash generated by operations was £6.4m (2024: £7.0m) as an improved
underlying operating profit from the packaging business was partially offset
by a substantial working capital outflow. Further details are provided in the
cash flow statement.
During the year, we invested a net £4.6m (2024: £4.5m) in property, plant
and equipment including installation of three new moulding machines across the
Group to expand capacity and facilitate sales growth in 2026 and beyond. We
also received surplus property proceeds of £1.0m. As a consequence, net debt
at 31 December 2025 was £5.4m (2024: £5.9m). With total credit facilities of
£19.3m (2024: £13.5m), the necessary headroom is available for the Group to
operate effectively.
Surplus property
We have made substantial progress on the execution of our surplus property
disposal plan during the year.
Two sales were completed as follows:
Property Completion Proceeds (£'000)
Walton Mill August 2025 700
25 Walton Road December 2025 300
1,000
The £1m of proceeds was received in cash and has been used to reduce bank
debt.
In addition to the two sales which completed during the year, contracts had
also been exchanged on the following sales in advance of the year end:
Property Expected Proceeds (£'000)
Completion
Cannon Mill January 2026 135
Walton Works March 2026 600
Boythorpe Works by August 2027 2,850
3,585
The sale of Cannon Mill completed as planned in January 2026, the
consideration was received in cash and has been used to reduce bank debt. The
sale of Walton Works is expected to complete in March and the consideration
will be paid in cash and be used to reduce bank debt.
Boythorpe Works is subject to an option agreement. The option attracted a
nonrefundable fee of £20,000 during 2025, is for a maximum period of 24
months, is exercisable during this time at the option of the buyer and in
addition the buyer would be obliged to exercise should satisfactory planning
permission be granted. The total consideration payable after exercise of the
option is £2,850,000, with one third to be paid on completion, one third 12
months after completion, and the final third 24 months after completion.
In addition to those sales that have exchanged and/or completed, the Company
has agreed, subject to contract, to sell three other surplus properties in
Chesterfield with an aggregate consideration of £2,885,000. Exchange and
completion of these is expected in the next few months. The proceeds will be
payable in cash, over up to 12 months post completion, and the monies will be
used by the Company to reduce bank debt.
Business strategy
As planned, we have spent time during the year conducting a full review of our
business strategy, reflecting on our winning aspiration, where we will play,
how we will win and what capabilities and systems will need to be in place for
a successful execution. In its recent history, Robinson has operated as a
collection of small entrepreneurial businesses, largely built through
acquisition. Recent challenges related to demand volatility and price
inflation, as well as increased customer and consumer expectations for their
plastic packaging, have stretched the Group's ability to generate consistent
growth and returns. Our new business strategy will put the customer at the
centre of everything that we do, ensuring that we recognise, build and focus
on our core capabilities in our chosen markets and geographies where we can
align our value proposition with the needs of our core customers.
Organisation and capabilities
We have started to reshape the organisation structure to align with our
business strategy. The new functionally led structure replaces the former
regionally based model, strengthening commercial, operations and central
business services across our plastics business while maintaining Paperbox as a
standalone business. This redesign will enhance customer focus, improve
cross‑regional collaboration and embed best practice through group-wide
centres of excellence. Clearer accountability, a more agile executive
leadership team and strengthened support functions will ensure better
strategic alignment and a scalable platform for growth. The newly formed
executive leadership team will be accountable for delivering change across the
organisation with a strong focus on customer centricity, operational
excellence and supporting the sustainability needs of our customer base.
To support our value proposition, we will invest in developing our account
management, sustainability, continuous improvement and project management
capabilities which we see as essential building blocks of how Robinson
differentiates itself to drive competitive advantage in our chosen markets. As
a key enabler for our business transformation, we are also launching a project
to review and replace the Group's aging ERP systems with a unified platform to
support the implementation of best practice processes and data-driven decision
making.
Sustainability
As part of the comprehensive review of the Robinson strategy, we are also
refreshing our approach to sustainability. This new simplified approach
demonstrates that Robinson:
· is committed to running a business that is aware of and actively
considers its environmental impact and is taking steps to reduce this;
· understands and is aligned with the sustainability needs of its
customers and is putting goals and actions in place to support them as part of
their wider business strategy; and
· is serious about ensuring the safety and recognising the importance
of its people and is prepared to implement real changes to demonstrate this.
Further details are provided in the Sustainability Report of the Annual Report
and Accounts.
We are very pleased to have achieved 31% (2024: 27%) post-consumer recycled
material content in our plastic packaging in 2025, exceeding our 30% target.
The growth in our recycled content in recent years has been largely due to our
partnerships with the major premium brand owners, helping them to deliver
their own sustainability goals; gradually we are starting to see the wider
market, under ever growing pressure from retailers, looking to move to
recycled material despite the higher costs involved. Legislation in the UK and
EU continues to limit the use of mechanically recycled polypropylene material
for food applications and as more than 35% of our plastic products fall into
this category, this remains a challenge to further increasing our use of
recycled raw materials. Having achieved our initial target of 30%, we are now
focused on leveraging the experience and capability that we have built in
sourcing and processing recycled material to extend its use where possible
across our customer and product portfolio.
Reducing the carbon footprint of our operations by reducing energy consumption
is a key strand of our sustainable approach to manufacturing. We continue to
decommission old low efficiency equipment and consolidate production on more
modern energy efficient technology as well as investing in new machinery when
appropriate.
During the year a £4.0m invoice finance credit facility held with HSBC Bank
UK was converted to a sustainability improvement loan. Future finance costs
will be determined by the degree to which Robinson succeeds in achieving the
sustainability performance criteria attached to the facility.
Our focus ahead
Our experiences during 2025 reinforced the importance of building a stronger,
more resilient and more customer‑focused Robinson. As we move ahead with a
refreshed strategy, an aligned organisational structure and an investment
mindset, we are positioning the Group to deliver increasingly consistent
performance and sustainable growth. Our priorities are centred on deepening
customer partnerships, strengthening our core capabilities and ensuring we
operate with discipline and efficiency.
We will continue to invest in those areas where we see the greatest
long‑term opportunity, supported by modern, energy‑efficient equipment. At
the same time, we are embedding sustainability at the heart of our value
proposition, building on our achievements in recycled content, reducing energy
usage across our operations and aligning closely with the sustainability
commitments of our customers.
While some markets remain challenging, particularly in Poland and Denmark, we
are confident that our renewed structure, strengthened leadership team and
clearer strategic focus provide a solid foundation on which to rebuild
momentum. The successful execution of our surplus property programme further
strengthens our financial position and allows us to continue investing in
capability, capacity and growth.
With these actions underway, Robinson enters the coming year with purpose and
confidence. We remain committed to creating long‑term value and security for
all stakeholders and to realising the significant opportunities that lie
ahead.
John Melia
CEO
* Operating costs before other items
**Operating profit before other items
Group income statement and statement of comprehensive income
Group income statement Underlying Other items Total Underlying Other items Total
2025 2025 2025 2024 2024 2024
£'000 £'000 £'000 £'000 £'000 £'000
Revenue 56,210 - 56,210 56,410 - 56,410
Cost of sales (43,690) - (43,690) (44,866) - (44,866)
Gross profit 12,520 - 12,520 11,544 - 11,544
Operating costs (8,899) 79 (8,820) (8,349) (6,266) (14,615)
Operating profit/(loss) 3,621 79 3,700 3,195 (6,266) (3,071)
Finance income - interest receivable - - - 16 - 16
Finance costs (687) - (687) (790) - (790)
Profit/(loss) before taxation 2,934 79 3,013 2,421 (6,266) (3,845)
Taxation (734) - (734) (805) 1,328 523
Profit/(loss) for the period 2,200 79 2,279 1,616 (4,938) (3,322)
Earnings/(loss) per ordinary share (EPS) p p p p
Basic and diluted earnings/(loss) per share 13.1 13.6 9.6 (19.8)
All results are from continuing operations.
Underlying represents the results before other items. Other items have been
disclosed separately in order to give an indication of the underlying earnings
of the Group. Further details of other items are provided in note
3.
Group statement of comprehensive income 2025 2024
£'000 £'000
Profit/(loss) for the period 2,279 (3,322)
Items that will not be reclassified subsequently to the income statement:
Remeasurement of net defined benefit liability - 3,725
Deferred tax relating to items not reclassified - (931)
- 2,794
Items that may be reclassified subsequently to the income statement:
Exchange differences on translation of foreign currency goodwill and 79 (88)
intangibles
Exchange differences on translation of foreign currency deferred tax balances - 9
Exchange differences on translation of foreign operations 905 (453)
984 (532)
Other comprehensive income for the period 984 2,262
Total comprehensive income/(expense) for the period 3,263 (1,060)
Group statement of financial position
2025 2024
£'000 £'000
Non-current assets
Goodwill 1,190 1,111
Property, plant and equipment 23,337 23,077
Deferred tax assets 302 294
24,829 24,482
Current assets
Inventories 5,411 4,923
Trade and other receivables 11,733 11,042
Cash at bank and on hand 2,725 2,480
Assets classified as held for sale 1,538 1,127
21,407 19,572
Total assets 46,236 44,054
Current liabilities
Trade and other payables 11,162 11,211
Borrowings 3,165 1,723
14,327 12,934
Non-current liabilities
Borrowings 4,926 6,657
Deferred tax liabilities 1,037 772
Provisions 55 95
6,018 7,524
Total liabilities 20,345 20,458
Net assets 25,891 23,596
Equity
Share capital 84 84
Share premium 828 828
Capital redemption reserve 216 216
Translation reserve 659 (325)
Revaluation reserve 3,015 3,463
Retained earnings 21,089 19,330
Equity attributable to shareholders 25,891 23,596
Group statement of changes in equity
Share capital Share premium Capital redemption reserve Translation reserve Revaluation reserve Retained earnings Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Group
At 1 January 2024 84 828 216 207 3,487 20,732 25,554
Loss for the year - - - - - (3,322) (3,322)
Other comprehensive (expense)/income - - - (532) - 2,794 2,262
Total comprehensive expense for the year - - - (532) - (528) (1,060)
Transfer from revaluation reserve as a result of property transactions - - - - (24) 24 -
Dividends paid - - - - - (898) (898)
At 31 December 2024 84 828 216 (325) 3,463 19,330 23,596
Profit for the year - - - - - 2,279 2,279
Other comprehensive income - - - 984 - - 984
Total comprehensive income for the year - - - 984 - 2,279 3,263
Transfer from revaluation reserve as a result of property transactions - - - - (448) 448 -
Credit in respect of share-based payments - - - - - 12 12
Dividends paid - - - - - (980) (980)
At 31 December 2025 84 828 216 659 3,015 21,089 25,891
Share capital
Share premium
Capital redemption reserve
Translation reserve
Revaluation reserve
Retained earnings
Total
£'000
£'000
£'000
£'000
£'000
£'000
£'000
Group
At 1 January 2024
84
828
216
207
3,487
20,732
25,554
Loss for the year
-
-
-
-
-
(3,322)
(3,322)
Other comprehensive (expense)/income
-
-
-
(532)
-
2,794
2,262
Total comprehensive expense for the year
-
-
-
(532)
-
(528)
(1,060)
Transfer from revaluation reserve as a result of property transactions
-
-
-
-
(24)
24
-
Dividends paid
-
-
-
-
-
(898)
(898)
At 31 December 2024
84
828
216
(325)
3,463
19,330
23,596
Profit for the year
-
-
-
-
-
2,279
2,279
Other comprehensive income
-
-
-
984
-
-
984
Total comprehensive income for the year
-
-
-
984
-
2,279
3,263
Transfer from revaluation reserve as a result of property transactions
-
-
-
-
(448)
448
-
Credit in respect of share-based payments
-
-
-
-
-
12
12
Dividends paid
-
-
-
-
-
(980)
(980)
At 31 December 2025
84
828
216
659
3,015
21,089
25,891
Group cash flow statement
2025 2024
£'000 £'000
Cash flows from operating activities
Profit/(loss) for the period 2,279 (3,322)
Adjustments for:
Depreciation of property, plant and equipment 3,681 3,452
Impairment of property, plant and equipment 551 223
Profit on disposal of property, plant and equipment (3) (177)
Profit on disposal of assets held for sale (376) -
Impairment of goodwill - 463
Amortisation and impairment of intangible assets - 1,886
Finance income - (16)
Finance costs 687 790
Taxation charged/(credited) 734 (523)
Other non-cash items:
Pension service cost and expenses - 3,725
IFRS 2 charge for share options 12 -
Operating cash flows before movements in working capital 7,565 6,501
Increase in inventories (292) (296)
Increase in trade and other receivables (292) (575)
(Decrease)/increase in trade and other payables (504) 1,384
Decrease in provisions (40) (3)
Cash generated by operations 6,437 7,011
Corporation tax paid (469) (667)
Interest paid (675) (786)
Net cash generated by operating activities 5,293 5,558
Cash flows from investing activities
Interest received - 16
Acquisition of property, plant and equipment (4,389) (3,881)
Proceeds on disposal of property, plant and equipment 23 275
Proceeds on disposal of assets held for sale 1,000 -
Net cash used in investing activities (3,366) (3,590)
Cash flows from financing activities
Loans repaid (1,017) (348)
Net proceeds from sale and leaseback transactions 1,798 -
Capital element of lease payments (1,507) (1,870)
Dividends paid (980) (898)
Net cash used in financing activities (1,706) (3,116)
Net increase/(decrease) in cash and cash equivalents 221 (1,148)
Cash and cash equivalents at 1 January 2,480 3,576
Effect of foreign exchange rate changes 24 52
Cash and cash equivalents at end of period 2,725 2,480
Cash at bank and on hand 2,725 2,480
Cash and cash equivalents at end of period 2,725 2,480
Notes to the financial statements
1. Basis of preparation
Robinson prepares its financial statements on a historical cost basis unless
accounting standards require an alternate measurement basis. Where there are
assets and liabilities calculated on a different basis, this fact is disclosed
either in the relevant accounting policy or in the notes to the financial
statements. The financial statements have been prepared in accordance with
UK-adopted international accounting standards ("IFRS") in conformity with the
requirements of the Companies Act 2006. The Group's financial statements are
prepared on a going concern basis. The financial information contained in this
announcement does not constitute statutory accounts as defined in Section 434
of the Companies Act 2006. However, the financial statements contained in this
announcement are extracted from audited statutory accounts for the financial
year ended 31 December 2025 which will be delivered to the Registrar of
Companies. Those accounts have an unqualified audit opinion.
2. Accounting Standards
Robinson prepares its financial statements in accordance with applicable IFRS,
issued by the International Accounting Standards Board ("IASB") in conformity
with the requirements of the Companies Act 2006, and interpretations issued by
the IFRS Interpretations Committee. The Group's financial statements are also
consistent with IFRS as issued by the IASB as they apply to accounting periods
ended 31 December 2025.
3. Going Concern
The Directors have considered the factors relevant to support a statement of
going concern. In assessing whether the going concern assumption is
appropriate, the Board and the Audit and Risk committee considered the Group
cash flow forecasts under various scenarios, identifying risks and mitigants
and ensuring the Group has sufficient funding to meet its current commitments
as and when they fall due for a period of at least 12 months from the date of
signing these financial statements. The Directors have a reasonable
expectation that the Group will continue in operational existence for this 12
month period and have therefore used the going concern basis in preparing the
financial statements.
3. Other items
2025 2024
Other items Tax impact Other items Tax impact
£'000 £'000 £'000 £'000
Profit on disposal of assets held for sale (376) - - -
Pension related costs - - 3,725 (931)
Amortisation of intangible assets - - 607 (116)
Impairment of intangible assets - - 1,279 (281)
Impairment of goodwill - - 463 -
Impairment of property, plant and equipment 425 - - -
Costs related to future disposal of surplus properties 45 - 191 -
Flood related (income)/costs (192) - 1 -
Restructuring & rationalisation costs 19 - - -
Total (79) - 6,266 (1,328)
Other items have been disclosed separately in the income statement in order to
give an indication of the underlying earnings of the Group.
4. Publication of statutory financial statements
The Company's financial statements are due to be made available on the
Company's website (www.robinsonpackaging.com
(http://www.robinsonpackaging.com) ) on 5 March 2026 and posted to
shareholders with the Notice of Annual General Meeting on 16 April 2026, at
which time the Notice of Annual General Meeting will be made available on the
Company's website. Copies will also be available at the Company's registered
office, Field House, Wheatbridge, Chesterfield, S40 2AB. The Annual General
Meeting is due to be held at 11.30am on 21 May 2026 at the Peak Edge Hotel,
Darley Road, Chesterfield S45 0LW.
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