Sales and profits and the rigid packaging maker rose despite soaring polymer prices

RPC saw the price of its polypropylene and polystyrene soar by 30% and 60% respectively from January to the end of its first-half on 30 September, the group said in its interim statement today.

The two materials account for more than three-quarters of the company’s overall polymer offtake. Despite the cost increases, Europe’s largest rigid packaging maker turned in another record breaking performance, lifting operating profit by 9.5% to Ј15.3m (E22.2m) on sales up by 7.2% at Ј233.8m (E339.5m).

Chairman Peter Williams said that the period “demonstrated our ability to manage our way through a very inclement climate”, and predicts further progress for the year as a whole.

The four plants acquired from Rexam in March have exceeded expectations, although Hereford made “no meaningful contribution” (PRW.com 15 March). The seven-plant deal with Nampak, concluded after the period closed, makes RPC Europe’s number two blow moulder.