News blog
Robinson
- BY: Andrew Hore |
- POSTED: 03/04/2009 |
Shares in Robinson jumped 12p to 45p a share following the release of its 2008 results.
Paperboard and plastic packaging manufacturer Robinson reported a jump in profits from £345,000 to £1.35m, on revenues 1% ahead at £25.8m. The profit includes finance income from the pension fund of £1.05m, down from £1.28m in 2007. The underlying profit is £300,000.
The final dividend is unchanged at 1.75p a share.
Robinson has successfully passed on higher input costs and cut its overheads. The business is focused on toiletries, food and drinks packaging where demand has held up.
UK revenues fell by 11% as more production came from the factory in Poland.
Net debt is £3.72m and the balance sheet includes a pension asset of £6.81m.there are also property assets held for sale of £2.95m. Excluding the pension asset the NAV of the company is £14.7m. Robinson has a market value of £7.17m.
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