RPC reports rise in third quarter revenue and profit

Plastic products design and engineering company RPC Group said revenues in the third quarter grew significantly thanks to continued underlying organic growth and acquisitions.

In a trading update for the period from 1 October, the company said adjusted operating profit was also significantly ahead of last year and in line with management's expectations.

The company benefited from passing on higher polymer prices in the period, which partly made up for the adverse effect of this in the first half of the year.

In addition, the group said it achieved good cash flow development and retains a robust financial position with “significant headroom” under its debt facilities.

RPC said completion of the acquisition of Global Closure Systems – announced in December – is expected in March, with the preparation planning for the integration currently underway.

Chief executive Pim Vervaat said: "The group performance in the quarter has been encouraging. Looking ahead, the addition of the GCS business will be another significant step in realising the Vision 2020 focused growth strategy."

At 1100 GMT, RPC shares were up 0.6% to 759p.