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RPC full-year revenue surges 67%

RPC Group has reported a 67% increase in its revenue to £2.74bn for full year ended 31 March 2017, compared to £1.64bn for the same period in 2016.

The British packaging giant stated that overall like-for-like sales improved by 3% through the year. On the other hand, return on sales improved to 11.2% in comparison to the previous year’s 10.6%.

RPC Group said that it continued to execute its Vision 2020 strategy, with goals of continued focused organic growth drawn on innovation. Apart from that, selective strengthening of presence in the European market by targeted acquisitions had helped it achieve profits in the full year.

The group also said that it benefited from creating a meaningful footprint outside Europe where growth rates are significantly more and also by going after added value opportunities in non-packaging markets.

It added that acquisitions helped it to consolidate existing positions in market besides diversifying into nearby markets with attractive return and growth profiles while overall improving the group’s strategic buying power.

RPC Group CEO Pim Vervaat said: "Acquisitions made since the launch of the strategy in 2013 continue to add value including the recent GCS and BPI acquisitions, whose performance in the year was better than expected.

“The recently completed Letica acquisition will provide an enhanced platform for growth in North America and has made a good start under RPC's ownership. Going forward, the Group continues to explore opportunities for growth in line with its strategy.”

Going by the results, the packaging company has recommended a final dividend of 17/9p per share taking the total for the year of 24.0p, reflecting a growth of 50% compared to the previous year.