Packaging group upbeat about 2009 amid easing input costs
Group revenue was up 15.6 per cent at £381.0m (€458.5) as compared to £329.7m (€396.7) in 2007, the company reported.
And the rigid plastic packaging manufacturer said the financial outcome of its second half was expected to improve, helped by cost-cut measures, price increases and easing polymer costs.
Jamie Pike, RPC group chairman said the company “achieved a creditable first half performance in what can only be described as very difficult market circumstances with the combination of input prices rising to record levels and a slowing economy.
“Looking forward, margins are expected to recover with selling price increases taking effect and polymer prices easing.”
Following the company’s strategic review a plant optimization programme is set to get underway which will see eight plants closed or sold as part of operational improvements, claims the group.
The RPC group supplies packaging for sectors such as the margarine industry and provides multi-layer sheet and packs for oxygen sensitive food products.