StockMarketWire.com - Plastic and paperboard packaging manufacturer, Robinson, has reported a 19% increase in revenue for the first half of the year, to £21.2 million.

For the six months to the end of June 2021, gross margin decreased to 16.7% from 23.6% in 2020 and operating profit before amortisation of intangible assets reduced to £0.1 million.

The company has reported a loss before tax of £0.6 million for the period and announced an interim dividend of 2.5p.

Alan Raleigh, Robinson's chairman, said: 'Resin prices have now stabilised and shown the first signs of a reduction in July, however, we are not expecting a significant reduction before the end of the year. We are also experiencing price inflation in other areas including secondary packaging and transport which will continue to impact on the second half of the year.

'Across our markets we are seeing a lower-than-normal level of demand in the third quarter due to the ongoing uncertainty across FMCG supply networks and a varying pace of recovery following the pandemic. We are now expecting this to continue for the second half, so we are accelerating our plans to improve our operations for additional cost savings and profitability.'

The company said it expects full year operating profit before amortisation of intangible assets to be in the region of £2.0 million.




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