Revenues are expected to rise and profits are to be ahead of expectations at Chesterfield-headquartered Robinson plc, the manufacturer of plastic and paperboard packaging.
According to a trading statement for the year ended 31 December 2020, revenues are expected to be £37m, which represents a 6% increase on 2019. Meanwhile, the firm’s directors anticipate adjusted and reported profit before tax for 2020 to be ahead of current market expectations, and ahead of 2019.
During the year the company has invested £4.6m in new additional and replacement production equipment and in the refurbishment of a manufacturing building in its UK business.
Alan Raleigh, Chairman, said: “Robinson’s performance in 2020 has been resilient in the face of significant challenges. This has primarily been achieved due to the dedication of our people. We have continued to trade throughout the period, operating in line with local hygiene and social distancing requirements to ensure the safety and well-being of our colleagues, whilst effectively serving our customers.
“I am pleased to confirm that in accordance with the Board’s succession plan, Guy Robinson stepped down as Finance Director on 1 January 2021 and was succeeded by existing executive Board Director Mike Cusick. The Board will continue to benefit from Guy’s experience as an executive Director until May 2021 and as a non-executive Director thereafter.
“Additionally, as part of our ongoing commitment to good corporate governance during the year, existing non-executive Board Director Sara Halton was appointed as the Senior Independent Director and Chair of the Audit and Risk Committee. I look forward to working with both Guy, Mike and Sara in their new roles at Robinson.
“Despite the uncertain economic environment, we remain committed to ongoing delivery of our target of mid to high single digit sales growth and a 6-8% return on sales.”