Plastic packaging manufacturer Robinson increased its pre-tax profit by 23% to £2.67m in 2011.
Chesterfield-based Robinson made a £1.4m gain the disposal of its paperboard tube business and closure of other operations but this is not included in the underlying pre-tax figure. Revenues grew 10% to £21.5m. The total dividend is 15% higher at 3.75p a share.
Robinson believes that its revenues should be resilient because of its customer base of food and drink companies.
Net debt was £579,000 at the end of 2011. This was sharply lower thanks to the sale of discontinued activities.
At 101p a share, up 11p, Robinson is valued at £16.1m. The net asset value was £23.2m at the end of 2011, which includes a pension asset of £7.29m.Management believes the market value of its surplus properties is higher than their balance sheet values.
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