Plastic packaging firm RPC saw profits boosted in the first half by increased sales and a successful acquisition.
Sales of £586.7m in the first half were 11% higher than the same period last year on a like-for-like basis.
The numbers were boosted by the inclusion of six months of Superfos trading activity, a business which RPC acquired in February 2011.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm has declared an interim dividend of 4.2p per share, a 24% increase on the previous year.
Earnings per share were 16.4p, up from 10.5p in the first half of 2010.
However, it warned that broader macro-economic weakness was causing a slowdown in demand across some of the group's product areas.
Segments such as paint containers, industrial products and vending cups had been affected, it said.
However, growth in higher added value products was anticipated to continue, the firm said
"With [around] 60% of the revenues related to the relatively resilient food markets and whilst enjoying strong market positions based on leading technological capabilities, the group is well positioned to weather any general economic downturn," said chairman Jamie Pike.
"The board remains confident that the stated aim of 20% ROCE by March 2014 will be achieved," he added.
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
