Plastic packaging maker RPC (Rushden / UK; www.rpc-group.com) lifted its revenues in the first half of its fiscal year (ending 31 March 2019) by 7% to GBP 1.89 bn (EUR 2.13 bn) with activities in both packaging and non-packaging segments improving due to strong organic growth. The sales expansion was also attributed to contributions from acquisitions and pass-through of higher polymer prices partially offset by foreign exchange movements.

Profit after tax from continuing operations rose 1% to GBP 119.1m while operating profit gained 4% to GBP 184.3m. The figures exclude non-core businesses that RPC intends to sell and are classified under discontinued operations.

Europe, where RPC had recently made some bolt-on acquisitions – see Plasteurope.com of 14.03.2018 and 24.08.2018 – and which accounts for nearly 80% of group sales, had a robust trading performance. Revenues widened 4.9% but operating profit fell 0.1%.

Operating profit in its Packaging business grew 2.5% to GBP 175.6m and revenues jumped 7% to GBP 1.62 bn. The fastest growth rates were in Healthcare and Personal Care end-markets. The Beverage division was flat while Food advanced only 1.9%. The food market experienced good overall growth but the hot summer months experienced across northern Europe had affected sales of agricultural films.

RPC is at the centre of a potential takeover battle between two private equity firms after disclosing in September 2018 that it is in talks to sell itself either to Apollo Global Management (New York, New York; www.agm.com) or Bain Capital (Boston, Massachusetts; www.baincapital.com) – see Plasteurope.com of 13.09.2018. RPC has again extended the deadline to 21 December 2018 for the two private equity firms to announce either an intention to make a firm offer or not.