RPC Group’s Profits Soar Following Acquisitions
RPC, the international design and engineering company, has cited recent acquisitions in the last financial year as key factor in its profits more than doubling.
Established in 1991, the UK-based specialist in polymer conversion in packaging and non-packaging markets has spent in excess of £1.3 billion on acquisitions since December 2015, which grew revenues by 67 per cent to £2.7 billion in the year to March 31.
Recent acquisitions of French bottle-top maker GCS and smaller British rival British Polythene Industries performed above expectations, helping RPC increase pre-tax profit by 105 per cent to £155 million.
In February this year, another major purchase was announced in the form of Letica Group for £552 million. The acquisition has reportedly started well for GCS and further expands the organisation’s foothold in the USA.
RPC has also generated 73 per cent of profits from its international centres, which has helped the company start the new financial year in a strong position and in line with the organisation’s expectations.
RPC Chief Executive, Pim Vervaat, recently stated that the organisation will continue to find opportunities for growth through further acquisitions of companies that are aligned with RPC’s values.
Analysts have suggested RPC will look to strengthen its global position with acquisitions likely to take place in European countries and beyond over the next two years.
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