RPC Group sees profit and revenue significantly ahead

Plastic products design and engineering company RPC Group expects revenue and adjusted operating profit for the year to be ahead of the previous year.

In a pre-close trading statement for the financial year ending 31 March, the company said revenues for 2015/16 are expected to be significantly ahead of last year thanks to continued organic growth and the contribution from acquisitions.

The adjusted operating profit is also expected to be much higher and in line with management expectations as the first phase of Promens-related synergies have been fully realised.

RPC said its financial position remains robust with good cash flow development projected for the year and significant headroom under the group's debt facilities.

The company said it continues to make good progress in implementing the Vision 2020 focused growth strategy by growing organically and through acquisitions.

The acquisition of Global Closure Systems (GCS), a manufacturer and provider of closures and dispensing systems, was completed at the end of March and preparations for its integration are well advanced.

RPC also completed the acquisition of JP Plast on 8 March.

“The JP Plast acquisition meets all of the group's strict acquisition criteria and had sales of €13.5m during 2015 operating from two well-invested locations in the Czech Republic and Slovakia where it has market leading positions.”

Chief executive Pim Vervaat said: "I am pleased with the group's performance during the year and the continued implementation of the Vision 2020 growth strategy.

“I am looking forward to further growth in 2016/17 with GCS adding high added value product ranges to the group's overall product offering and further extending our global reach."