RPC was established in 1991 following the management buyout of the plastic operations of Reedpack Ltd from SCA. Originally comprising five UK factories, the company today has over 55 operations in 19 countries and employs more than 11,100 people, with annual sales in excess of £1bn. It was listed on the London Stock Exchange in 1993 and entered the FTSE 250 in March 2011.

RPC is unique in offering products manufactured by the three main conversion processes – blow moulding, injection moulding and thermoforming, each technology producing different product characteristics that are suitable for specific packaging applications. It is structured along market and technological lines into six clusters which are aligned to these three processes.

Each cluster has on average seven manufacturing sites, operating across a wide geographical area for reasons of customer proximity, local market demand and manufacturing resource. Each plant is run autonomously.

This structure gives RPC a high degree of knowledge and expertise, along with the flexibility to deal with all types of sizes of businesses, and enables the company to deliver packaging solutions tailored each time to individual customer requirements, as well as the highest levels of service and support.


http://www.rpc-group.com/

Final Pre-Close Trading Statement
RNS
RNS Number : 0461B
RPC Group PLC
28 March 2013



RPC Group

28th March 2013



Pre-close trading statement

RPC Group, Europe's leading supplier of rigid plastic packaging, today issues its pre-close trading statement for the financial year ending 31st March 2013 ahead of its preliminary results due to be published on the 5th June.



Trading performance

Activity levels in the fourth quarter were better compared with the previous quarter with the growth in higher added value products such as coffee capsules continuing. When taking into account discontinued businesses, sales volumes for the year are anticipated to be on a similar level to last year with the sales mix improving. The upturn in January has not been sustained and trading conditions remain challenging against the backdrop of the difficult macro-economic conditions in the Eurozone and the UK which affected overall activity levels and competitive intensity.

Polymer prices rose to near record levels by the end of September and reduced gradually towards the end of 2012 before rising again in the fourth quarter. Polymer price variations are generally passed on to the customer base albeit with a time lag. This time lag effect had a negative overall impact on operating profit in 2012/13 whereas it was beneficial in the previous financial year.

Revenue for the financial year 2012/13 is expected to be lower than the previous year, largely as a consequence of the strength of sterling versus the euro, in which a significant part of the Group's turnover is recorded. This currency translation effect is estimated to have a negative impact on the operating profit of circa £4m. The operating profit (before exceptional items) as reported in sterling for the twelve months to 31 March 2013 is therefore anticipated to be slightly below last year. When measured on a constant currency basis, the overall performance is anticipated to be similar to last year as the material adverse polymer time lag variance has been compensated by cost reduction measures (including Superfos synergies) and an enhanced sales mix.

The financial position remains robust with satisfactory cash flow development in the fourth quarter and significant headroom under the Group's debt facilities.



Other developments

The "Fitter for the Future" business optimisation programme is progressing well with the site closures at Beuningen (Netherlands) and Antwerp (Belgium) due to be completed in 2013. Good progress has also been made on the other cost efficiency measures. The integration of the Manuplastics business acquired in November 2012 is proceeding to plan with the realisation of the cost synergies largely complete.



Outlook

As a result of flat economic growth forecasts for many of our European markets and the challenging trading environment, the Board currently expects limited overall organic growth for the financial year 2013/14. The Group will continue to decisively act upon those matters within its control in relation to sales mix and cost efficiency measures with further progress expected in the new financial year. Opportunities for value adding growth via corporate development activities, both within and outside of Europe, will also be actively pursued. The Group's strong European market positions, leading innovation capability, scale and competitiveness continue to underpin value and growth fundamentals for RPC's portfolio of businesses.



Jamie Pike, RPC's Chairman said:

"The continuing lack of growth in Europe, which is expected to continue in 2013/14, has had an impact on the level of profitability. The overall performance in these challenging trading conditions remains however robust and the Group is well placed to benefit from economic recovery from a position of sound financial strength. The Board remains confident in RPC's prospects."

RPC warns of challenging conditions and limited growth next year
By Benjamin Chiou

Thu 28 Mar 2013

RPC - RPC Group


LONDON (SHARECAST) - FTSE 250-listed plastic packaging firm RPC Group said that foreign exchange (FX) changes and challenging economic conditions mean that both revenues and profits will be lower this year, while limited growth is expected next year.

In a separate statement, RPC appointed Simon Kesterton, a member of the Chartered Institute of Management Accountants, as its new Finance Director, replacing Pim Vervaat who is to step up to the Chief Executive Officer position in May.

As previously announced, Vervaat is to replace Ron Marsh, who notified the group of his intention to quit in October. Chairman Jamie Pike said that the changes mark "the end of an era" after Marsh led the company for 24 years.


Trading subdued
Ahead of RPC's full-year results to be published in June, the company said activity levels in the fourth quarter (ending March 31st) improved on the preceding quarter with growth in higher added value products continuing. However, when taking into account discontinued businesses, sales volumes will be flat for the year.

"The upturn in January has not been sustained and trading conditions remain challenging against the backdrop of the difficult macro-economic conditions in the Eurozone and the UK which affected overall activity levels and competitive intensity," the company said.

The company warned of the impact of rising polymer prices - near record levels during the year - on its bottom line: it said that while price variations are generally passed on to the customer base, there is a time lag, meaning that operating profits were affected.

Meanwhile, the relative strength of sterling against the euro is to have a negative effect on results this year, meaning that both revenues and profits will be lower than the 2011/2012 financial year. At constant currency, RPC said that its performance would be similar to last year as changes in polymer prices are offset by cost-reduction measures and a better sales mix.

"The continuing lack of growth in Europe, which is expected to continue in 2013/14, has had an impact on the level of profitability," Pike said.

"The overall performance in these challenging trading conditions remains however robust and the group is well placed to benefit from economic recovery from a position of sound financial strength. The board remains confident in RPC's prospects."

As for the 2013/2014 year, RPC said that subdued economic growth and a challenging trading environment means that "limited overall organic growth" is expected.

Final Results

Key developments:



§ Revenues of £1,051m (2012: £1,130m) reflecting the impact of a weaker euro versus sterling and the strategic exit from certain sectors. Underlying activity levels similar to last year with the sales mix continuing to improve;



§ Adjusted operating profit of £89.7m (2012: £93.5m) at the same level as last year when measured at constant exchange rates. Return on sales improves to 8.5% (2012: 8.3%);



§ Net profit for the year at £25.5m (2012: £44.7m) after incurring £36.0m (2012: £20.6m) of restructuring costs, impairment losses and other exceptional items;



§ Superfos integration and exit from mainland Europe vending cup and automotive business successfully completed. Good progress made with the business optimisation programme 'Fitter for the Future';



§ Net cash flow from operating activities at £85.5m (2012: £100.1m) and net debt at £171.4m (2012: £160.0m);



§ ROCE of 18.3% (2012: 19.3%) adversely impacted by exchange rates;



§ Adjusted basic EPS at 34.8p (2012: 37.3p) with a final dividend of 10.6p recommended giving a total year dividend of 14.9p (2012: 14.4p).






http://www.moneyam.com/action/news/showArticle?id=4608206

6 Jun JP Morgan... 496.00 Overweight

A hold in this weeks IC- High polymer prices dent RPC.

Cost cutting targets could yet prove overly conservative and some easing in polymer prices of late helped push RPC's shares up about 6% on the day these figures appeared. But polymer prices and currency markets are volatile , and the shares - trading at over 11 times forecast earnings - aren't especially cheap.

Questor share tip: Buy RPC Group for market recovery
TelegraphBy Garry White | Telegraph – Thu, Jun 6, 2013 07:00 BST...
Companies:

RPC Group (LSE: RPC.L - news) 's started the year well. Questor says buy.

RPC Group 407.7p+8.1 Questor says BUY

Plastics specialist RPC Group issued full-year results yesterday that were in line with lowered expectations. This followed a profit warning in November (Xetra: A0Z24E - news) . However, investors are now more interested in the future.

RPC (NYSE: RES - news) is an innovator in packaging, with key skills in producing lightweight rigid plastic containers throughout Europe. It has a particular strength in items such as coffee capsules, with customers including global brands such as Nescafe, Heinz and Dulux.

The shares surged yesterday after management said that the new year had started well, with sales in April and May rising 5pc to 10pc on an underlying basis. However, it is important to note that Easter was earlier this year, so there were more trading days in April to flatter the figure. Nevertheless, the group looks as if it will return to good growth over the next few years, with customers more confident on new product launches.

Last year was challenging for a number of reasons. The group was hit by rising polymer costs, which it passes on to customers with a time lag, the weak euro and the generally subdued economic backdrop.

In the year to March 31, revenues fell 7pc to £1.051bn. Some of the fall was down to currency weakness in eurozone operations, with the group exiting from some lines of business such as its European vending cup operations.

Pre-tax profits tumbled by almost a third to £40.3m after £22.1m of restructuring costs and £10.7m of writedowns. In total, exceptional items were £36m.

The final dividend of 10.6p will be paid on September 6 and brings the total payout to 14.9p, a 3.4pc year-on-year rise.

This represented the 20th consecutive year that the company has increased its payout. The prospective yield is 3.7pc rising to 4pc next year.

The group trades on a current year earnings multiple of 11.6 falling to 10.5, due to the fact that its markets appear to have hit a trough in 2012.

Based on future growth and positive trends in polymer prices, Questor upgrades to buy from hold.

RPC Group
FY13 results
Focusing on core strengths
http://www.edisoninvestmentresearch.com/researchreports/RPC270613update.pdf

Date

Broker

New target

Recomm.


3 Jul JP Morgan... N/A Overweight

Interim Management Statement

RNS


RNS Number : 0098J

RPC Group PLC


RPC Group



10th July 13



Interim Management Statement



RPC Group Plc, Europe's leading supplier of rigid plastic packaging, is issuing the following interim management statement ahead of its Annual General Meeting on Wednesday, 10 July 2013 at Stationers' Hall, Ave Maria Lane, London, EC4M 7DD.





Trading performance



Trading in the period from 1st April to 30th June 2013 ("the period") was ahead of last year, resulting in adjusted operating profit (before exceptional items) being slightly ahead of management expectations. We have seen higher activity levels and as anticipated, the sales mix continued to increase towards higher value added products.



The financial position remains robust with satisfactory cash flow development in the quarter and the Group retains significant headroom under its existing debt facilities.



The "Fitter for the Future" business optimisation project continues to progress well with the Antwerp site in Belgium now closed and the transfer of business from the Beuningen site (Netherlands) going to plan as are the additional cost efficiency measures across several sites. The Group has reached agreement to sell two redundant properties.



Pim Vervaat, RPC's Chief Executive said:



"The year has started satisfactorily with improved activity levels in what remains a challenging macro-economic environment. The Group continues to seek higher added value growth both within and outside Europe and, with its strong market positions and leading technological capabilities, remains confident in its ability to deliver further progress in the current financial year."

Gone long on RPC. Very cheap and plenty of packing need in this hot weather. Last results were good. Update 1st of August

Ex dividend 7 Aug 10.6p payment 6 Sept

5 Aug JP Morgan... N/A Overweight

RPC Group: RBC Capital initiates with a target price of 540p and an outperform rating.

RPC Group PLC (RPC:LSE) set a new 52-week high during today's trading session when it reached 528.00. Over this period, the share price is up 35.21%.

RPC Group: Deutsche Bank initiates with a target price of 670p and a buy recommendation.

Trading Statement

RNS


RNS Number : 2857D

RPC Group PLC

27 March 2014






27 March 2014





RPC Group





Pre close trading statement





RPC Group, Europe's leading supplier of rigid plastic packaging, today issues its pre close trading statement for the financial year ending 31March 2014 ahead of its full year results due to be published on 4 June.





Trading performance



Revenue in the fourth quarter is anticipated to be ahead of the corresponding period last year due to the inclusion of the recently acquired businesses and better underlying activity levels. The Group's overall trading performance for the full year 2013/14 is anticipated to be in line with management expectations.



RPC's financial position remains robust with satisfactory cash flow development in the fourth quarter and significant headroom under the Group's debt facilities.





Other Developments



The integration of the M&H Plastics and Helioplast businesses, which were acquired in December 2013, has been completed with the synergy potential verified and slightly ahead of expectations. The "Fitter for the Future" programme is progressing well with production having ceased at the Troyes plant in France and the consolidation of the Swedish plants proceeding to plan.





Pim Vervaat, RPC's Chief Executive said:



"The performance for the year is anticipated to be in line with our expectations. I am pleased with the progress we have made towards the strategic goals set out in our Vision 2020 focused growth strategy and I am confident that further progress will be made going forward against the backdrop of more encouraging macro-economic conditions."

Proposed Placing

RNS


RNS Number : 0339G

RPC Group PLC

01 May 2014






THIS ANNOUNCEMENT (INCLUDING THE APPENDICES) AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

Further, this Announcement is for information purposes only and shall not constitute an offer to sell or issue or the solicitation of an offer to buy, subscribe for or otherwise acquire any new ordinary shares of RPC Group plc in any jurisdiction in which any such offer or solicitation would be unlawful.

RPC Group Plc

Proposed placing of approximately 13 million new ordinary shares to raise approximately £75 million

RPC Group Plc ("RPC" or the "Company" or the "Group"), an international rigid plastic packaging supplier to the food and non-food, consumer and industrial markets, today announces the placing of approximately 13 million new ordinary shares of 5 pence each in the Company (the "Placing Shares") representing approximately 8 per cent. of the Company's existing issued ordinary share capital (the "Placing"). The Placing is expected to raise £75 million and is being conducted through a bookbuilding process which will be launched immediately following this Announcement.

The proceeds of the Placing will be used to part finance the acquisition of ACE Corporation Holdings Limited ("ACE") as announced earlier today, for an initial consideration of approximately US$301 million (£178 million) and a total consideration of up to US$430 million (£255 million) on a debt-free, cash-free basis (the "Acquisition"). The initial consideration to be paid for ACE represents a multiple of 7.4 times 2013 EBITDA.

Background to and reasons for the Placing

ACE, established over 25 years ago, is one of the Far East's industry leaders in the manufacture of plastic injection moulded components and injection moulding tools for niche segments within the packaging, lifestyle, medical, power and automotive end markets. Headquartered in Hong Kong, ACE operates five technologically advanced production plants in mainland China with approximately 3,300 employees. For the year ended 31 December 2013, ACE achieved revenues of HK$ 1,355 million (£104 million) and EBITDA of HK$ 314 million (£24 million), these results representing growth of 25% and 38% respectively from the year ended 31 December 2012.

RPC proposes to fund the initial consideration of US$ 301 million (£178 million) through the issue of approximately 8.5 million ordinary shares to the ACE Sellers (subject to customary "lock-in" arrangements), the Placing of approximately 13 million ordinary shares to raise approximately £75 million, with the balance funded through new debt (principally through a new £350 million revolving credit facility arranged alongside the Acquisition) and existing cash reserves. The Board expects pro forma leverage as at 31 March 2014 to be approximately 1.8 times the Enlarged Group's net debt / EBITDA.

Details of the Placing

The Placing will be conducted in accordance with the terms and conditions set out in Appendix I. The Placing will be effected by way of an accelerated bookbuilding to be managed by Deutsche Bank AG, London Branch ("Deutsche Bank") and Panmure Gordon (UK) Limited ("Panmure Gordon" and together with Deutsche Bank the "Joint Bookrunners"). The bookbuilding process will commence with immediate effect. The timing of the closing of the book, pricing and allocations is at the absolute discretion of the Joint Bookrunners. The price at which the Placing Shares are to be placed (the "Placing Price") and the number of Placing Shares will be agreed by the Company with the Joint Bookrunners at the close of the bookbuilding period. Details of the Placing Price and the number of Placing Shares will be announced as soon as practicable after the close of the bookbuilding process. The Placing Shares will, when issued, be credited as fully paid and will rank equally in all respects with the existing ordinary shares of the Company, including the right to receive all dividends and other distributions declared, made or paid in respect of such shares after the date of issue of the Placing Shares.

The Placing is conditional upon, amongst other things, admission of the Placing Shares to the premium listing segment of the Official List maintained by the UK Listing Authority and to trading by the London Stock Exchange on its main market for listed securities, becoming effective ("Admission") and the placing agreement between the Company and the Joint Bookrunners not being terminated prior to Admission. The Placing is not conditional on completion of the Acquisition. In the event that the Acquisition does not complete, it is the Directors' current intention that the net proceeds of the Placing would be retained by the Company for general corporate purposes and (where possible) acquisitions that fulfil the Company's strategic objectives.

Settlement for the Placing Shares as well as Admission of the Placing Shares is expected to take place on 7 May 2014.

Questor share tip: RPC shares look cheap

Recent acquisitions make shares in this growing plastics specialist look cheap, says Questor


By John Ficenec, Questor editor

6:00AM BST 02 May 2014

RPC
623½p+23½
Questor says BUY



RPC Group


Plastics specialist RPC is growing its profits and dividends. What’s more, yesterday it agreed its biggest ever acquisition that will add about 10pc to group revenues and expand operations in the fast-growing Asian market. That means the shares are now looking cheap.


RPC is an innovator in packaging. The company makes lightweight rigid plastic products, but these products are a world away from boxes and cellophane; one of RPC’s fastest-growing markets is coffee-machine capsules for the new generation of home machines.


This gives the company a barrier to entry as each design is specific to the customer. Plastic packaging is increasingly popular in the food industry as it is cheaper to make and costs less to transport than traditional glass and metal containers. Revenue from the food industry tends to be fairly defensive as these are consumable and disposable items that create recurring demand.


In the automotive industry, metal parts on dashboards are also being replaced by plastic equivalents.


Shares in the company, whose client base includes Nestle, Heinz, Dulux and Unilever, surged nearly 4pc yesterday after management said it had agreed a £255m deal to acquire Hong Kong-based packaging group ACE. This deal brings 100pc ownership of five manufacturing plants in mainland China. The price paid looks reasonable as well; ACE made revenue of HK$1.35bn (£104m) and earnings of £24m, with growth of 25pc and 38pc respectively on a year earlier.

To fund the deal, RPC will carry out a private placing of 13m shares, about 8pc of the company, to raise £75m and ACE will be paid in 8.5m shares worth about £53m. The balance of the payment, up to £125m, will come from newly agreed debt facilities.

RPC has been on something of an acquisition spree during the past six months. The company paid £103.5m for UK-based Maynard & Harris last December, and £7m for Helioplast, based in Bosnia and Herzegovina, in January.

This has certainly caused the level of debt to increase from an estimated £265m at the end of March to around £315m today. However, RPC has an excellent track record of generating cash to reduce those debts. The company made about £50m in free cash flow during the first half of the year, an increase of two thirds on the same period a year earlier.

It looks as though RPC’s forecasts could get upgraded in the coming months. In the year to March 31, analysts are expecting revenue of £1.06bn and pre-tax profits of £81.5m, giving earnings per share of 37.3p. The interesting prospect is what happens when a full year of revenue and profits from the recent acquisitions kicks in. The current estimates (see table) look conservative.

RPC has a good track record with acquisitions. The company bought Superfos in 2011 and delivered more cost savings than originally anticipated. RPC said in a trading update last month that savings from the Helioplast and M&H deals were ahead of expectations.

The total dividend payout this year is expected to be 15.5p, a 4pc year-on-year increase, rising to 16.8p next year. This will represent the 21st consecutive year that the company has increased its payout, and the prospective yield is 2.5pc.

The group trades on a forward earnings multiple of 13.7, falling to 12.6. Questor thinks that looks cheap given the rapid growth of profits at the company. RPC is always at risk from a sharp increase in the price of oil, which drives up plastic polymer prices, but over the long term RPC looks well placed.

Questor advised buying the shares last year (407.7p, June 6) and since then investors have enjoyed gains of 53pc. The recent acquisitions look well priced and we are comfortable retaining our initial advice. Buy.

RPC Group: JP Morgan ups target price from 675p to 690p reiterating an overweight rating

Shares - set to reveal finals 4 June .