Acquisition helps drive RPC sales, further boosted by personal care
The rigid packaging specialist reported that sales were up 11 per cent on a like-for-like basis to £586.7m (£684.5m), compared to £381.9m in the same period for 2010.
Adjusted operation profit increased to £45.4m, compared to £21.8m in the same period for 2010, while net profit more than doubled to a record £26.3m, compared to £13.1m in the same period last year.
Acquisition synergies help boost performance
“RPC has delivered a very good half year performance with the integration of the Superfos business progressing well and synergies anticipated to be £9m for the year ending March 2012,” said Jamie Pike, RPC Group chairman.
“Whilst macro-economic uncertainties have increased, the group has made significant progress towards achieving its stated aim of 20 per cent ROCE by March 2014,” he added.
The organic sales growth was mainly attributed to the acquisition of the Superfos card and plastic packaging business, which does not concern the personal care arena. Overall the company said that volumes were similar to last year, while the increase in the value of sales reflected higher prices, mainly for polymers.
RPC comprises three divisions, thermoforming, injection moulding, and blow moulding – of which the two latter divisions are concerned with cosmetics and personal care.
Higher volumes for cosmetics and personal care
The company underlined the fact that cosmetics and personal care was one of the areas where higher volumes were seen for Bramlage Wiko division, which is a part of the injection moulding business. This growth was also driven by increased levels of new product development.
In the blow moulding division the company said that there was good volume growth across the board, as it benefitted from demand for barrier blow moulded plastic jars and bottles, a trend that underscores the move away from heavier packaging materials such as glass and metal.
The company also mentioned that it would continue to look out for further organic and acquisitive growth, both throughout Europe and in less mature higher growth economies outside of Europe.
