RPC Group full-year profit and revenue up, dividend lifted

FTSE 250 plastic products design and engineering company RPC Group posted a rise in full-year profit as revenue grew and said it has made a good start to the new year.

For the year to the end of March, adjusted pre-tax profit rose 35% to £160.6m on revenue of £1.6bn, up 34% on the previous year as acquisitions contributed to growth.

Statutory pre-tax profit increased to £75.6m from £67.1m and the company proposed a full-year dividend per share of 17.1p, up from 14.3p.

RPC said the Promens business has been integrated and the integration of GCS is well advanced.

In addition, good progress has been made in the implementation of the Vision 2020 strategy with continued consolidation of the European plastic packaging market and enhancement of the group's global footprint.

Chief executive Pim Vervaat said: “The optimisation of the enlarged group's cost base is on track to deliver structural benefits of €80m per annum, an increase of €15m compared with previous estimates.

“Going forward, the group continues to explore opportunities for growth in line with the Vision 2020 strategy. The new financial year has started well and in line with management's expectations."