Robinson has profits surge all wrapped up

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Historic packaging firm Robinson saw half-year pre-tax profits surge to £2.2m, up from £600,000 a year earlier.

The Chesterfield-based company said its customers have reported subdued demand for premium branded products, but added new contract wins helped its revenues rise 14 per cent.

It said resin prices continue to fluctuate but remained broadly on the same level as last year.

The listed company maintained its gross margins and said increased hires in the sales and marketing team added 21 per cent to net operating costs.

Robinson also sold a facility in Chesterfield to Sonoco for £4.25m, creating a gain of £1.1m. Sonoco bought Robinson’s spiral wound paperboard business in 2011.

Chairman Richard Clothier said: “Market conditions for the rest of this year are expected to remain subdued.

“The directors are nevertheless optimistic that the group will show progress in the profitability of the trading business.”

The company is increasing its interim dividend to 2p.

The roots of the Robinson packaging business date back to 1839 but family members were behind successful businesses in Derbyshire for at least two hundred years before that.

In the early 16th century, the Robinson family established pottery businesses in Bolsover and Chesterfield.

They diversified into pipe manufacture and then drapery before moving into packaging in the 18th century.

The company floated on Aim in 2004.