RPC GROUP PLC Preliminary results for the year ended 31 March 2012
RPC Group Plc, Europe's leading supplier of rigid plastic packaging, announces today its results for the year ended 31 March 2012.
Highlights:
- Revenue increased by £311m to £1,130m due to the full year impact of Superfos and 5% growth on a like-for-like basis with underlying overall volumes on a similar level to last year;
- Adjusted operating profit improved by 68% to £93.5m (2011: £55.8m);
- Adjusted EPS increased to 37.3p (2011: 29.9p);
- Record net profit achieved of £44.7m (2011: £25.6m);
- Strong cash performance with net cash from operating activities at £100.1m (2011: £69.3m) and net debt reduced to £167.9m (2011: £178.7m);
- Final dividend of 10.2p recommended giving a total year dividend of 14.4p (2011: 11.5p);
- ROCE of 19.1% ahead of expectations (2011 pro-forma: 15.1%);
- Superfos integration largely completed with synergies of £10m achieved in first full year of ownership.
Commenting on the results, Jamie Pike, Chairman, said:
"It is pleasing to report yet another record performance. The Superfos business has been successfully integrated and has made a significant contribution whilst the growth in higher added value products continued. Very good progress has been made towards achieving our stated 20% ROCE target. Notwithstanding the current economic uncertainties, following the significant increase in underlying earnings after the Superfos acquisition the Board is proposing to increase the final dividend to 10.2p representing a full year increase of 25%."
