RPC Group reports record profits

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Plastic recycling company RPC Group
RPC has reported record profitability in the last year

Plastics company RPC Group has posted record profits following a period of European consolidation and wider global acquisitions.

Revenues grew by 36 per cent to £3.75 billion in the year to March. Profits were also up by the same margin at £317 million.

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With 189 operating sites in 34 countries, the group’s position outside Europe was enhanced by the acquisitions of Letica and Astrapak. Turnover in China grew organically by 26%.

Revenues outside Europe of £831m, up from £384 million in 2016/17, represent 22 per cent.

In its latest financial report RPC Group said it is continuing to increase its presence in the polymer-consuming, high growth technical components market.

The report said ESE World, provider of temporary waste storage systems, had performed well in the first year of ownership and was well placed to make further progress as demand for enhanced waste management to avoid litter and plastic leakage into the environment accelerated.

Future focus would be on higher added-value plastic solutions that can be recycled or reused. In line with this, it was confirmed that  a number of non-core businesses had been earmarked for disposal during 2018/19.

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