Key developments:
Revenues of £1,051m (2012: £1,130m) reflecting the impact of a weaker euro versus sterling and the strategic exit from certain sectors. Underlying activity levels similar to last year with the sales mix continuing to improve;
Adjusted operating profit of £89.7m (2012: £93.5m) at the same level as last year when measured at constant exchange rates. Return on sales improves to 8.5% (2012: 8.3%);
Net profit for the year at £25.5m (2012: £44.7m) after incurring £36.0m (2012: £20.6m) of restructuring costs, impairment losses and other exceptional items;
Superfos integration and exit from mainland Europe vending cup and automotive business successfully completed. Good progress made with the business optimisation programme 'Fitter for the Future';
Net cash flow from operating activities at £85.5m (2012: £100.1m) and net debt at £171.4m (2012: £160.0m);
ROCE of 18.3% (2012: 19.3%) adversely impacted by exchange rates;
Adjusted basic EPS at 34.8p (2012: 37.3p) with a final dividend of 10.6p recommended giving a total year dividend of 14.9p (2012: 14.4p).
Commenting on the results, Jamie Pike, Chairman, said:
"The Group delivered a robust performance in a challenging economic environment with adverse movements in currency exchange rates and polymer prices. I am confident that the underlying business improvements will continue to be achieved with RPC well positioned to benefit from an economic recovery going forward. The Group's strong market positions and leading technological capabilities provide a solid platform to deliver good medium to long-term growth."
