API is a leading manufacturer of specialised materials for packaging.

API's foil, holographic and laminate products have a worldwide reputation for quality and technical excellence.

At API we have always been guided by the spirit of innovation. Our industry ‘firsts’ have, time and again, been true ground-breakers.

The pursuit of new ideas was forged when Associated Paper Industries was established in the 1950s, a time of industrial pioneering. Since then API has acquired a range of businesses with strong products and a wealth of experience so that today it is a leading producer of specialised materials for use in the manufacture of packaging for premium branded goods.

Proud though we are of our heritage, we constantly look to the future. We invest heavily in people, technology and equipment, ensuring we deliver high quality, innovative products as efficiently as possible.

Whatever challenge you set us, API will endeavour to deliver an exceptional product backed up with the service you need.


http://www.apigroup.com/

LISTEN: Interview with Andrew Turner, Group Chief Executive & Chris Smith, Group Finance Director from API Group discussing the interim results.

Click here to listen

Final Results

RNS


RNS Number : 7726I

API Group PLC

04 June 2014











Press Release

4 June 2014






API Group plc



("API" or the "Group")



Final Results



API Group plc (AIM:API), a leading manufacturer of specialist foils and packaging materials, announces its final results for the year ended 31 March 2014.



Financial Highlights




·

Revenues ahead by £2.3m (2.0%) to £114.7m (2013: £112.4m).


·

Profit before tax unchanged at £5.6m (2013: £5.6m). Profit before tax of £6.3m on a pre-exceptional basis (2013: £6.6m).


·

Stronger second half, with pre-exceptional profit before tax ahead by £0.5m (+15%).


·

Diluted earnings per share 7.1p (2013: 7.2p). Excluding exceptional items, diluted earnings per share 7.8p (2013: 8.4p).


·

Proposed final dividend of 1.3p per share, making 2.0p for the full year (2013: 0.0p).


·

Cash flow from operations of £9.0m (2013: £8.6m), converted at 91% of EBITDA (2013: 86%) and a net cash inflow of £2.8m (2013: £1.2m).


·

£0.2m net cash at year end (2013: net debt of £2.6m), the first time for 15 years that the Group has reported a net cash position.




Operational Highlights




·

Another good performance from Laminates and further progress at Foils Europe. Holographics back to breakeven in final quarter after cost reduction measures. Operating margin maintained at Foils Americas despite weaker sales in the second half.


·

Laminates major new supply contract fully on stream during second half.


·

Restructuring of UK foils operations completed; new distribution facility established in Sheffield, leaving Livingston to concentrate on manufacturing.


·

New ERP solution successfully implemented by Foils Americas; roll-out in Foils Europe scheduled for 2014.


·

Capital additions and joint venture investment of £3.8m (2013: £5.5m), including down payments on new metallising equipment for UK and US foils plants.




Commenting on the results, Andrew Turner, Group Chief Executive of API Group plc, said:

"In spite of a slightly weaker profit performance, these results demonstrate further strengthening of the Group's financial position, combined with continued substantial investment in the operating assets of the business. The year-end net cash balance and the re-introduction of a dividend after a break of more than ten years, represent important milestones in the rehabilitation of the Group.



Operational improvement and investment initiatives already completed, as well as further projects planned for the new financial year, are expected to strengthen API's position in its key markets and enhance prospects for future sales and profit growth."



- Ends -

API Group sparkles at Numis

StockMarketWire.com

Specialist foils and packaging materials firm API Group (LON:API) received an unexpected festive boost from analysts at Numis as its rating was moved to an outright ���buy��" (from ���add��") as they cited ���reasons to be cheerful��", despite last week��"s results announcement showing a circa 22pc decline in pre-tax profits.

The broker said: ��SThe H1 PBT decline of 21.9% to £2.3m was in line with expectations but we have made further downgrades to reflect the uncertain outlook.

��SHowever, our dividend projections are unchanged (there is a very firm commitment to a progressive policy) and the swing to net debt of £5.7m in H1 will be reversed going forward.

��SRatings are inexpensive, even allowing for the downgrades made.⬝

Target price stands at 60 pence a share.



At 3:35pm: (LON:API) API Group PLC share price was +2p at 48p


Story provided by StockMarketWire.com

Cedar makes offer for API Group




By StockMarketWire | Thu, 22nd January 2015 - 12:21


Cedar 2015 ("Cedar Bidco"), an indirect subsidiary of Steel Partners Holdings, has announced its firm intention to make an offer to acquire the entire issued and to be issued ordinary share capital of API Group not already owned by Steel and its subsidiary undertakings.

Under the terms of the Offer, API shareholders will receive 60p in cash per API Share.

The offer values the entire issued and to be issued ordinary share capital of API at approximately £46m.

The Steel Group is the largest shareholder in API, holding shares representing approximately 32.3% of the existing issued share capital of API.

At 12:21pm: (LON:API) API Group PLC share price was +11p at 58p