StockMarketWire.com - Packaging company Robinson posted a rise in first-half profit and declared a second interim dividend amid increased demand from the cleaning sector.

Pre-tax profit for the six months through June amounted to £1.1m, up from £0.3m on-year, as revenue climbed 5% to £17.9m.

Robinson declared a second interim dividend of 2p per share and said, subject to trading performance, that it planned to pay a full-year dividend of 8.5p, up from 2.5p on-year.

'The main market sectors for which we supply packaging have shown resilience throughout the pandemic, with notable increases in demand for our products used in liquid hand soap, sanitiser and household cleaning,' the company said.

Chief executive Alan Raleigh said that despite the uncertain economic environment, Robinson was expecting to report mid-to-high single-digit revenue growth in the full year.

'We are committed to investing in new production equipment and additional capabilities to grow the business in the second half of 2020, including developing our go-to-market approach and reinforcing our sustainability proposition,' he said.

'As a result, operating costs will be significantly higher than the same period in 2019.'

'Notwithstanding this increase and subject to any disruption to trading that may arise from the ongoing pandemic, we expect full year earnings to be slightly higher than last year and remain committed to ongoing delivery of our target of 6-8% return on sales.'


At 8:12am: [LON:RBN] Robinson PLC share price was +4.5p at 136.5p



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