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Annual Results

RPC Group more than doubles FY pretax profit

07 June 2017 07:18

Plastic products design and engineering group RPC has more than doubled its FY pretax profit, and at the same time boosted its dividend and revenue.

"The implementation of the Vision 2020 growth strategy is progressing well, reflected in a good trading performance in 2016/17 with continued organic growth and achieving record profitability levels with robust cash generation," said CEO Pim Vervaat.

"Acquisitions made since the launch of the strategy in 2013 continue to add value including the recent GCS and BPI acquisitions, whose performance in the year was better than expected."

He said the recently completed Letica acquisition would provide an enhanced platform for growth in North America and had made a good start under RPC's ownership.

"Going forward, the group continued to explore opportunities for growth in line with its strategy. "The new financial year has started in line with management's expectations."

Pretax profit for the year to March 31, 2017, was £154.7m, up 105%, with revenue up 67% to £2.75bn. FY dividend was up 50% to 24.0p a share.

Story provided by StockMarketWire.com

Related Company: RPC

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