WASHINGTON: RPC Group said revenues in H1 are projected to be significantly ahead of the same period last year, benefiting from the contribution of acquisitions and continued organic growth. The adjusted operating profit for the first half is also anticipated to be significantly ahead of last year due to organic growth, realisation of synergies, the part reversal of last year’s polymer price headwind and a foreign exchange translation benefit.
The organisational integration of GCS has been completed and its overall trading performance is ahead of previous expectations. The acquisition of British Polythene Industries (“BPI”) was completed in August and has been integrated into RPC as a sixth stand-alone division. Initial trading has been encouraging.
The overall acquisition related cost synergies (steady state €80m related to Promens / GCS and £10m for BPI) are currently being reviewed to assess potential further upside. The Group’s financial position remains strong, with good cash flow development in the first half and it has significant headroom under its debt facilities.
