Rpc Predicts Fall In Full Year Profit And Revenue

Rigid plastic packaging firm RPC Group has predicted that its full-year operating profit and revenue will drop, due to high polymer prices and adverse foreign exchange movements. The firm said that polymer prices rose to near record levels by the end of September, but reduced gradually towards the end of 2012 before rising again in the fourth quarter. Revenue for the financial year 2012/13 is expected to be lower than the previous year, largely as a “consequence of the strength of sterling versus the euro, in which a significant part of the Group’s turnover is recorded,” the company said. The currency conversion was estimated to have a negative impact on the operating profit of about £4m.