Robinson FY24 operating profits seen 'moderately ahead' of expectations
By Iain Gilbert
Date: Thursday 23 Jan 2025
(Sharecast News) - Packaging business Robinson said on Thursday that FY operating profits were expected to be "significantly ahead" of FY23 and "moderately ahead" of current market expectations.
Robinson said quarterly revenue growth was driven by a 14% increase in FY revenues to £56.5m as all of its business units delivered improved returns in FY24, with the exception of its Denmark operations. However, Robinson also noted that interventions during H2 were already delivering improvements and were expected to return that operation to profitability in 2025.
Net debt on 31 December was expected to be £5.9m, down from £6.3m at the same time a year earlier, following substantial capital expenditure in the year.
Looking ahead, Robinson stated that following the "strong progress" made in FY24 and reflecting the effect of known new customer projects, it now expects revenue and operating profits to grow in FY25.
As of 0915 GMT, Robinson shares had surged 10.70% to 119.0p.
Reporting by Iain Gilbert at Sharecast.com
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