RPC GROUP
Respectable first-half performance / Little change from 2005 / Further acquisition in the UK
Performance at RPC Group (Higham Ferrers / UK; www.rpc-group.com) in the six months to 30 September showed little change from the same period of 2005. Turnover was stable at GBP 308.4m (EUR 460.6m), operating profit was unchanged at GBP 18.4m, although pretax profit fell 3% to GBP 12.9m. Chairman Peter Williams termed it "a respectable performance", adding that there was an underlying improvement in operating profit and margins, up across the group from 6.0% to 6.3%.
Volumes were comparable with 2005 in the injection moulding operation and a variety of initiatives are underway to maintain competitiveness. These include a longer working week in Germany at no extra cost, headcount reductions in the UK and use of temporary workers in mainland Europe. In thermoforming, volumes were affected by a number of factors, reducing year-on-year by 7%. However, added-value products are increasing in the Netherlands, where staff numbers are being reduced and an increased working week introduced. Blow moulding activity was on a par with 2005, but the transfer of production lines resulting from the closure of the Nampak plant in Woburn Sands / UK proved more difficult than expected.
Following the acquisition of 4 You Sigal in Poznan, Poland in August (see Plasteurope.com Web of 13.11.2006), RPC has acquired the UK company Barplas (www.barplas.com) for a sum of GBP 4.2m, effective 31 October. Based in Bradford, the company injection moulds pails and paint cans, and will complement existing UK plants in Oakham and Blackburn.
Volumes were comparable with 2005 in the injection moulding operation and a variety of initiatives are underway to maintain competitiveness. These include a longer working week in Germany at no extra cost, headcount reductions in the UK and use of temporary workers in mainland Europe. In thermoforming, volumes were affected by a number of factors, reducing year-on-year by 7%. However, added-value products are increasing in the Netherlands, where staff numbers are being reduced and an increased working week introduced. Blow moulding activity was on a par with 2005, but the transfer of production lines resulting from the closure of the Nampak plant in Woburn Sands / UK proved more difficult than expected.
Following the acquisition of 4 You Sigal in Poznan, Poland in August (see Plasteurope.com Web of 13.11.2006), RPC has acquired the UK company Barplas (www.barplas.com) for a sum of GBP 4.2m, effective 31 October. Based in Bradford, the company injection moulds pails and paint cans, and will complement existing UK plants in Oakham and Blackburn.
22.12.2006 Plasteurope.com [207066]
Published on 22.12.2006