In a trading update RPC Group Plc, an Northamptonshire headquartered plastic products design and engineering company, reported growth.
Revenue for the quarter ending 30 June 2018 was £964.7m, a 5.8% growth versus the first quarter last year. Profitability was also said to be in line with management expectations and grew versus last year.
The news comes after the acquisition of Nordfolien GmBH, back in April and with the news that Martin Towers, who joined the Company in 2009 as an independent non-executive director, will be stepping down from the board.
Commenting on the AGM trading update, Jamie Pike, RPC’s Chairman, said: “The Group has made further progress in the first quarter and I am pleased with the trading performance of the core businesses over the same period.
“RPC remains well placed to work with customers at the design stage and throughout the product lifecycle to drive a sustainable future for plastic. The Board strongly believes in the strengths and prospects of the Group.
“However, pressure on the company’s market valuation and differing investor views on the appropriate level of leverage is constraining the Group’s ability to pursue some attractive opportunities for growth and your Board is working to resolve this.
“In the short-term, the Group will prioritise cash generation and the announced disposal of our non-core businesses, with a view to generating increased capital for deployment in the business or further returns to shareholders.”