RPC Group 'Finalising Preparations' To Deal With Brexit
RPC Group has said that it is 'finalising preparations to mitigate any disruption' from the UK's exit from the European Union, with the Rushden-based business stockpiling at its manufacturing sites to prevent issues emerging post March 29th.
The group, which is the subject of a bidding war between Apollo Global and Berry Global, said that its third quarter revenues were £894 million (€1.02 billion), reflecting organic growth of 1.4%. Organic growth for the first three quarters, to 31 December, was 2.6%.
During the third quarter, the business completed the disposal of its spirits closures business at Bridge of Allen, Scotland, to a subsidiary of Guala Closures.
'The Group's operating profit from continuing operations (before adjusting items) in the third quarter was similar to the corresponding period last year,' it said in a statement.
'Whilst polymer price changes continue to be passed-through to the customer base, the time lag in doing so resulted in the Group continuing to experience a temporary headwind which totalled £10m at the end of the first six months of the year.'
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.