June 7, 2017 / 6:44 AM / 3 years ago

RPC full-year revenue surges 67 percent, aided by acquisitions

(Reuters) - British packaging company RPC Group Plc reported a 67 percent rise in its full-year revenue, helped partly by acquisitions, and said it had started the financial year in line with management’s expectations.

The company said adjusted operating profit rose 76.8 percent as it recognised better cost savings from its acquisition of Letica Corporation Inc, British Polythene Industries and Global Closure Systems during the year.

RPC Group reported adjusted operating profit of 308.2 million pounds for the full-year ended March 31, on revenue of 2.75 billion pounds.

The weakening of the sterling following the European Union referendum boosted its operating profit by 29 million pounds, the company said.

RPC, which gets about 70 percent of its revenue from outside the UK, has been positioning itself to benefit from a weak sterling since the United Kingdom voted to leave the EU.

Reporting by Justin George Varghese and Sanjeeban Sarkar in Bengaluru; Editing by Sunil Nair

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