Half-year revenue and profits are up at Robinson plc, the custom manufacturer of plastic and paperboard packaging based in Chesterfield.
According to interim results for the six months ended 30 June 2022, revenue at the business hit £25.4m, up 19.8% from £21.2m in the same period of 2021.
The firm meanwhile posted a profit before tax of £2.8m, growing from a loss of £0.6m.
Robinson completed on the sale of two properties in the period, selling surplus land and buildings in Chesterfield for £975,000 and an operational property in Sutton-in-Ashfield for £2,475,000. The proceeds have been used to reduce bank debt.
The company is expecting further sales of surplus property in Chesterfield to be achieved in the next 15 months.
Alan Raleigh, chairman, said: “We expect the substantial uncertainty and volatility experienced since the beginning of 2021 to continue throughout 2022. Sales volumes will be under further pressure in the second half due to: the effect of inflation, which averaged 11% in June, the cost-of-living crisis, the de-listing of some products by our customers and certain of our customers prioritising existing business over innovation projects during the pandemic. We are now starting to see more new business activity with our existing and potential customers, which provides opportunities for growth in 2023 and beyond.
“Whilst resin prices have reduced over the summer from the peak seen during the initial phase of the Ukraine invasion, we have already experienced and expect to see further increases in energy and reduced availability of skilled labour.
“We are taking actions to drive business performance and respond as necessary to events across our geographical locations.
“Given the ongoing uncertainty, we expect profits in the 2022 financial year (excluding the uplift from the profits on disposal of properties) to be in line with market expectations and comfortably ahead of 2021. We remain committed in the medium-term to delivering above-market profitable growth and our target of 6-8% adjusted operating margin.”
